Business Irish

Sunday 19 November 2017

Noonan: 30,000 new houses needed for young couples in Dublin

Kathryn Hayes

THE Minister for Finance Michael Noonan has predicted that up to 30,000 new houses will be needed from next year onwards in particular in Dublin where young couples with children are looking to leave apartments.

Speaking in Limerick today Minister Noonan said house prices are starting to rise again particularly in South Dublin which he said is giving a "strong lead".

However, Minister Noonan warned that things can change very rapidly and said there are many couples with young children living in apartments looking for family homes.

" Dublin as in many other areas is giving the lead and south Dublin is giving us a strong lead according to one survey prices are up 12pc... These things can change very rapidly," he said.

"There are a lot of young couples with children in apartments now and they are looking at houses. There is probably a shortage of houses in certain family home areas in Dublin. We'd need about 25,000 to 30,000 new houses each year as we plan forward. Last year there was less than six built so you can see there is a mismatch now between supply and demand and we would be conscious and we hope the market will pick it up in the first instance," he added.

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