Housing supply won't meet demand until 'at least' end of 2023

Due to the Covid-19 construction shutdown, housing completions won't match demand until 'at least' the end of 2023, a new report has revealed. Stock picture: iStock

Housing supply is unlikely to meet demand "until at least the end of 2023", a new analysis of the property market has revealed.

The data, issued this morning by the Banking and Payments Federation Ireland (BPFI), the business group for lenders, warns that the impact of Covid-19 on housing supply is significant and will have an impact for years to come, undermining supply and causing further stress for the mortgage market.