State needs to build 1.4m additional homes by 2050 to meet demand, expert says – The Irish Times

The State needs to build an additional 1.4 million homes over the next 30 years – equivalent to 49,000 units a year – to cope with the likely increase in population, one of the State’s leading housing experts has claimed.

Economist Ronan Lyons said the Republic’s population is expected to grow from 4.9 million now to between 5.6 million and 6.7 million by 2051.

Taking into account changes to household size and obsolescence of the existing stock, “we’ll need something like 3.1 million dwellings by 2050” to accommodate this increase, he told the annual conference of the Dublin Economics Workshop.

There are currently 1.7 million occupied homes in the State.

Based on an average household size of 2.1 persons and an annual obsolescence rate of 0.6 per cent, “you end up needing about 49,000 homes per year”, he said.

Depending on the policy preference, up to 20,000 of these additional

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