Dublin, Ireland 3rd October 2021, Initiative Ireland (www.initiativeireland.ie) today published its fourth annual housing report, entitled Housing 2021.
The report highlights a 52% shortfall in supply relative to demand in 2020, but forecasts that 2021 will see delivery of 24,000 by the end of the year, up 15% from 2020.
Key Report Findings include:
- Lower-income families remain locked out of housing, especially within the Greater Dublin Area; where households on the average income of €65,400 were able to access less than 7% of new homes built and 8.5% of Existing Housing Sales.
- Household Buyers have gone from accounting for 62% of sales to 54% of sales, over the last 5 years, with increasing sales to institutional buyers and reductions in Household Landlords and a reduction in actual sales to owner-occupiers year on year.
- Only 35% of New Homes delivered in 2020 nationwide were for Household Buyers, including Self-Builds. This compares to 40% in 2018.
- 2020 saw planning approvals and extensions at 45,000 units, compared to forecast need for 59,000 per annum to adjust for non-commencements. Application approvals in the first half of 2021 accounted for 18,113 units, indicating a severe drop year-on-year which is expected to impact delivery in 2022.
The Housing 2020 Report is available via InitiativeIreland.ie/publications