Prediction of significant housing shortfall in 2024/25

There could be a"significant shortfall in housing" in 2024 and 2025, Society of Chartered Surveyors of Ireland President Kevin James has said.

Speaking on RTÉ's News at One, Mr James said the Tender Price Index presented earlier this year showed a 14% increase in tender price inflation, and despite predictions that prices would soften, anecdotal evidence showed"the figures haven't reduced as much as what we thought". Speaking in Longford, Micheál Martin said that the Minister for Housing would bring an amendment to the Oireachtas next week, to facilitate emergency planning for the rapid building of social housing.

The latest data from the Central Statistics Office shows a drop off in construction activity of 2.7% from July to the end of September 2022, when compared with the same period last year.He acknowledged there had been a loss of confidence in the private construction sector. Mr O'Brien said he does not foresee making any further changes to the concrete levy to bring down costs faced by the construction sector.

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