Dublin missing housing targets by 50%

Ulster Bank PMI

According to new figures released by the Housing Agency just over 50% of the housing unites required for Dublin city county were built last year.  The agency recently published its first National Statement of Housing Supply and Demand which found that 11,000 new homes were provided nationally last year, just 73 per cent of the minimum number needed.

According to a report in The Irish Times, the new figures provided by the agency show the mismatch between supply and demand for housing is far greater in the Dublin area than nationally.

The agency estimates the minimum supply requirement for the Dublin area in 2014 at 5,664 residential units.

But only 3,268 homes were built in all of Dublin city and county last year, just over 57 per cent of what the agency said was needed .

The numbers are spilt fairly evenly among the four local authorities. In Dublin City, 914 homes were built, the largest number of the four local authorities.

In South Dublin, 832 homes were built, slightly ahead of Fingal, the Dublin local authority with the greatest available land bank, where just 809 were built.

The lowest number of homes was completed in Dún Laoghaire-Rathdown at just 713.

The “persistent mismatch” between supply and demand for housing, particularly in Dublin, meant that more homes needed to be built in the coming years than would have been the case if supply more closely matched demand in recent years, the agency said.

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