Ireland will need up to 53,000 new homes each year as population grows

According to the ESRI, Ireland's population is expected to increase by 922,000 people between 2022 and 2040, a 'significant overall population growth of 1% on an annual average basis'. Picture: Steve Parsons/PA

Ireland will need up to 53,000 new homes a year to keep up with population growth, even without factoring in all the “pent-up demand” from years of undersupply, a new study has found.

The Economic and Social Research Institute (ESRI) report, funded by the Department of Housing, projects 12 scenarios of how demand for housing could change in Ireland up to 2030 based on various population growth scenarios, including varying levels of immigration.