Supply and Demand
by AIB Treasury Economic Research Unit
- Based on underlying demographics, the Irish economy needs at least 30,000 new residential units to be built each year
- There are a number of challenges, though, to further boosting housing supply.
- The latest forecast from the Central Bank of Ireland is that housing completions could amount to 27,500 units this year, rising to 29,000 in 2024.
- In terms of demand indicators, underlying mortgage market metrics suggest homebuyer activity remains solid.
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