Covid-19 to have long term impact on housing

COVID-19 is forecast to have a long-term impact on housing supply.

New analysis from the ESRI predicts just 15,000 units will be built this year – a figure researchers have described as ‘optimistic’.

The Irish Home Builders Association says a return to home building on April 5th will deliver 16,000 new homes including 1,844 in the city and county.

The ESRI expects the economy to grow by around 4%, but it could be 2023 at the earliest before unemployment rates return to their pre-pandemic levels.

ESRI Researcher Conor O’Toole predicts a bounce back in consumer spending this year, but not as much as originally expected.

“For this year we’re expecting consumption to grow at 6.7%.

“That is down markedly on our expectation from the end last year, and that is down to the fact we’re going to have stricter public health measures for a longer period of time.”

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