Housing needs huge output but, worryingly, house commencements have dipped

The main fallout from global challenges has been the construction sector, yet it will  be a busy selling season in the months ahead, says Sherry FitzGerald’s Ann O’Mahony

Panel discussion on Analysis of Housing Output in Cork City and County. From left: Stephen McCarthy, Director, Astra Construction; Parag Joglekar, Head of Development, Respond; Michael O'Flynn, Managing Director, O'Flynn Construction and Conor O'Connell, Director of Housing, Construction Industry Federation of Ireland.

After a tumultuous 2020, and a somewhat disorderly 2021, many of us felt that we deserved stability this year. However, eight months on, stable is perhaps the last word one could use to describe 2022.

A war in Ukraine, rapidly rising consumer prices, supply chain challenges and a 50bps rise in interest rates have all served to challenge both our economy and indeed our housing market.