52000 Homes Needed in Ireland Each Year for 25 Years - Central Bank

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Dealing with the pent-up demand for housing and continued growth in the population will require building 52,000 homes a year over 25 years, the Central Bank has forecast.

It has also calculated that to meet demand in 10 years it would need to build almost 70,000 units per annum.

This deficit has built up over a decade during which house building lagged behind demand.

Last year there were 33,000 homes completed .

Ultimately this will result in a higher cost of living, and in turn, a higher cost of doing business in Ireland, ultimately damaging our global competitiveness and the sustainable growth in living standards for the people of Ireland in the medium-term."