Wed Sep 18 01:30:00 UTC 2024: ## Housing Crisis Deepens: New Home Completions to Lag Behind Demand
**Dublin, Ireland -** Despite a surge in housing starts earlier this year, the Central Bank of Ireland has revised its forecasts for new home completions downwards, indicating a continued shortfall in supply that will exacerbate the housing crisis.
The bank’s latest Quarterly Bulletin predicts that only 32,000 new homes will be completed in 2024, with figures rising to 36,500 in 2025 and 39,000 in 2026. This falls short of the 40,000 target repeatedly stated by Taoiseach Simon Harris.
The bank’s economists attribute the shortfall to the gap between housing starts and completions, despite government initiatives aimed at stimulating construction. The need for housing, however, is now deemed even greater than previously estimated.
The revised figures highlight the ongoing challenges facing the Irish housing market, with demand significantly outpacing supply. This will likely result in continued pressure on rents and affordability, further deepening the housing crisis.
First Piper 