Government plans will boost new home construction to 35,000 a year say builders

Industry welcomes €110m affordability plan

Around 16,000 new homes are likely to be completed in the Republic this year, but most estimates agree that around 35,000 will be needed annually to tackle the housing crisis. Photograph: iStock

Around 16,000 new homes are likely to be completed in the Republic this year, but most estimates agree that around 35,000 will be needed annually to tackle the housing crisis. Photograph: iStock

 

Builders believe Budget 2021 housing measures will boost new home construction to 35,000 a year.

The Irish Homebuilders’ Association, part of the Construction Industry Federation, said on Wednesday that Government proposals could boost supply to 35,000 new homes a year.

Around 16,000 new homes are likely to be completed in the Republic this year, but most estimates agree that around 35,000 will be needed annually to tackle the housing crisis.

Association director, James Benson, said proposals from Minister for Housing, Darragh O’Brien, could take thousands of families out of the “affordability trap” over the next three years.

Trajectory

Mr Benson said the measures could put home building on a “sustainable trajectory” and end the Republic’s housing crisis in three years.

His organisation calculates that the Minister’s €110 million affordable housing scheme, announced in the wake of Budget 2021, could spark the construction of 9,000 homes that would otherwise not be built.