Sherry FitzGerald warns that Ireland faces a severe housing shortage, requiring the construction of 62,000 new homes annually to address the issue. The company highlights a decade-long imbalance between supply and demand, leading to soaring house prices. Falling new home construction, coupled with landlords exiting the rental market, exacerbates the crisis. The report also analyzes affordability pressures on first-time buyers and the impact of stricter rent controls on institutional investors.
Sherry FitzGerald estimates that the State needed to build 62,000 new homes a year in the short term to address the ongoing shortfall in supply. Photograph: Dara Mac Dónaill
The figures have once again placed a spotlight on Government housing policy. The Coalition is said to be considering tax incentives to stimulate private-sector investment in housing. The company’s report included an analysis of the affordability pressures faced by first-time buyers. It noted that the median price paid for a home by first-time buyers in 2023 was €398,488
HOUSING CRISIS IRELAND SUPPLY SHORTFALL HOUSE PRICES RENTALS
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