State needs 52,000 new homes a year to meet shortfall - Central Bank
The State must build 52,000 homes a year for the next 25 years or 68,000 over the next 10 years to resolve the current housing shortfall, the Central Bank has warned.
In a special report accompanying its latest quarterly bulletin, the regulator said the housing market has been subject to a decade of undersupply “during which house price and rental growth have outstripped income growth and stretched affordability”.
It noted there were four new workers for every one house built over the last 10 years.
News in Ireland
- Budget 2025: Cost-of-living package worth €1.5bn under consideration: A cost-of-living package worth about €1.5 billion is under consideration as part of Budget 2025 negotiations, as bilateral meetings between Ministers continue ahead of budget day on October 1st.
- Principals condemn ‘vacuous’ OECD review: An OECD report commissioned by the Department of Education to assess Ireland’s performance in addressing disadvantage in schools has been described as “vacuous” by a group of principals working at schools in some of Dublin’s most deprived areas.
- Human trafficking: 53 victims identified in Ireland: Some 53 victims of human trafficking, including five children, were officially identified in Ireland in 2023, while a “stark increase” in female victims was also recorded, according to the Irish Human Rights and Equality Commission (IHREC).
- How ‘The Family’ Dublin drugs gang got snared in encrypted platform infiltration: The Dublin drugs gang caught up in the latest international policing operation targeting an encrypted messaging platform emerged from impoverished and chaotic beginnings to take a prime position in Ireland’s underworld.
- Weather forecast: Any mist and fog patches will soon clear this morning and it will be another dry day today with long spells of sunshine developing. Highest temperatures of 17 to 22 degrees . Tonight will be dry with mostly clear skies. Lowest temperatures of 7 to 11 degrees.
- Check out today’s Most Read stories
- Join The Irish Times WhatsApp channel for breaking news straight to your phone.
Ploughing Championships
- ‘You need your stamina for going around’: Ploughing Championships kick off under sunny skies: With a 6.50am early rise, breakfast at home was off the table for John McKeown, but he was not going to brave a day at the National Ploughing Championships on an empty stomach.
The Big Read
- Where did it all go wrong for pub group Press Up?: Dublin hit peak Press Up in January 2022 when the hospitality group run by Paddy McKillen jnr and Matt Ryan opened Mama Yo, a 154-seat Chinese restaurant on Camden Street in Dublin.
Opinion
Business
- Buying a second-hand car? Here’s what to check and how to get a better deal: Thinking of buying a car? Not everyone wants to spend €40,000, the average price of a new car in Ireland, when it loses value as soon as you drive off the forecourt. Most people buy second-hand.
Sports
- Clodagh McCambridge eyes a sister act for Armagh: The difference a week can make. For a few whirlwind days at the end of July, the McCambridge household in Lurgan pulsed like it was the very epicentre of Gaelic games. Because, in many ways, that’s exactly what it was.
World
- At least nine killed, 2,750 injured after Hizbullah members’ pagers explode in Lebanon and Syria: At least nine people were killed, and 2,750 wounded, many seriously, on Tuesday afternoon, when pagers carried by Hizbullah militants exploded across Lebanon and Syria.
READ MORE
‘A taxi, compliments of Irish Rail. What service!’ A Christmas customer service miracle
The Big Irish Times Quiz of 2024
Nosferatu director Robert Eggers: ‘We needed to find a way to make the vampire scary again’
‘The Christmas swim is going to be a lot nicer’: Young Irish expats embrace their first Australian Christmas
- ‘I’m trying to build a social life, but how can I when my parents call to see me all the time?’: This week Trish Murphy deals with a query from someone whose parents are downsizing, and house-hunting close to me. As such, they are often in the area, and ask can they call in on the weekends. “I’m trying to build a social life/plan for myself now, but how can I when my parents want to see me all the time?”
Podcast Highlights
Why not try one of our Crosswords & Puzzles?
Like this?
Get the best content direct to your inbox by signing up to one of our newsletters