The coronavirus lockdown of Ireland's economy and subsequent restrictions on construction upon its reopening could cut the much needed building of new homes by a third, Housing Minister Darragh O'Brien said on Sunday.
FILE PHOTO: A new development under construction on Dominick Street Lower, faces old council flats in Dublin, Ireland January 30, 2020. REUTERS/Lorraine O'Sullivan/File Photo
A scarcity of supply has led rapid rises in rents and levels of homelessness in an economy that was booming until the coronavirus crisis shut it down at the end of March. House completions rose by 18% year-on-year to over 21,000 last year, having ground to a near halt a decade ago when the last economic crisis decimated the construction sector. Analysts say around 35,000 homes are needed a year to meet demand.
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