The Government is on course to fall short of its 2030 housing target by as many as 136,000 homes, according to a new report by Deloitte.
The report forecasts that the Coalition will miss its target of delivering 300,000 homes by between 123,400 and 136,100, raising fresh questions about whether its housing commitments can be achieved.
The report estimates that 40,000 homes will be completed in 2026, representing a 10 per cent increase on last year. However, it means a further 260,000 homes would need to be delivered over the following four years to reach the Government’s target.
The target forms part of Delivering Homes, Building Communities, the housing plan launched last November by Housing Minister James Browne.
Deloitte warned that maintaining the current pace of construction cannot be taken for granted, highlighting concerns that planning permission approvals are not keeping pace with the number of homes required.
Taoiseach Micheál Martin defended the Government’s record, insisting that Ireland was building homes faster than any other European country.
He said Ireland was delivering 7.2 housing units per 1,000 people, more than double the European average of three and almost three times the UK’s rate of 2.4.
Mr Martin also pointed to the delivery of approximately 36,000 homes last year, compared with around 20,000 in 2020.
He said that close to 70,000 social houses would have been delivered since 2020 by the end of this year.
Speaking in the Dáil on Wednesday, the Taoiseach questioned Deloitte’s methodology, arguing that its projections relied on historical planning permission lapse rates and did not adequately account for Government interventions, increased construction capacity or measures being introduced to accelerate housing delivery.
However it was pointed out by the Opposition that the median price of a home had risen from €255,000 in 2020 to almost €400,000 today – an increase of €140,000.