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Fresh impetus is needed to stop building slowdown

Editorial

This year’s projected number of housing unit completions falls short of last year’s figure 

The report shows that strong home building and mortgage approvals for this year risk being slowed by ever increasing building costs and interest rate increases. Picture: Stock image Expand

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The report shows that strong home building and mortgage approvals for this year risk being slowed by ever increasing building costs and interest rate increases. Picture: Stock image

The report shows that strong home building and mortgage approvals for this year risk being slowed by ever increasing building costs and interest rate increases. Picture: Stock image

The report shows that strong home building and mortgage approvals for this year risk being slowed by ever increasing building costs and interest rate increases. Picture: Stock image

Nearly 27,000 new housing units will be delivered this year, new figures from Banking and Payments Federation Ireland (BPFI) tell us. The reality is that this is not encouraging news, because it shows a fall back on the record figure of 30,000 homes finished last year.

Tánaiste Micheál Martin argued last week that the Government had “turned the corner” of the housing crisis over the past year, and little by little what he has acknowledged as a “housing crisis” would be resolved. At the same time, the Taoiseach, Leo Varadkar, said that there was a shortage of 250,000 houses across the country.

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