Household incomes average €45k as homes sell for €350k-plus pushing purchasing ‘beyond reach of most’

The Government must play a much bigger role in providing new homes because elevated land and construction costs mean the private market cannot build at prices the vast majority of potential buyers can afford.

In a new assessment, one of the country’s leading housing economists, Dermot O’Leary of Goodbody, has suggested acute housing shortages would prevail for most income earners even if annual output were to climb by more than 50% from its current levels.