Call for 200,000 new homes to be built in next three years as housing crisis deepens 

Davy Stockbrokers has warned that house price rises will continue to accelerate, along with construction costs due to the disruption caused by Covid

Davy claims 200,000 new homes are needed.

House price growth is likely to accelerate and the gap between supply and demand is set to widen as the fallout from the Covid crisis heaps more pressure on Ireland’s beleaguered housing market, Davy Stockbrokers has warned.

Davy has estimated that about 200,000 new houses and apartments will need to be built over the next three years. That figure will need to accommodate a rapidly growing population, the already factored-in minimum of 30,000 new annual builds needed and replacements for obsolete accommodation which is in need of rebuilding, Davy said.