The Central Bank said it will be “challenging” for the Government to meet its target of building 300,000 homes by the end of 2030.<\/p>\n
The bank increased its forecast for residential construction modestly over the coming years.<\/p>\n
It said it anticipated 33,000 homes would be built this year, 37,000 next year, 40,500 in 2027 and 44,500 in 2028.<\/p>\n
The bank warned bottlenecks in housing supply and high construction costs “may continue to push up rents and housing-related inflation which in turn could contribute to upward pressure on wages and goods and prices”.<\/p>\n
In its latest economic forecast, the bank said there will be slower growth in the Irish economy next year with higher inflation.<\/p>\n
It said the domestic economy would grow 4% this year and an average of 2.9% between 2026 and 2028.<\/p>\n
The Central Bank said: “The rapid growth in employment and incomes that underpinned consumer spending since 2021 is expected to continue to moderate, feeding into a lower projected pace of growth in modified domestic demand.”<\/p>\n
The bank also said the strong growth in employment of recent years will ease back.<\/p>\n
It said the numbers of people in jobs will rise by less than less than 2%, while the unemployment rate will be an average will be 5% over the coming years.<\/p>\n
It said inflation would be an average of 2% between now and 2028.<\/p>\n
Robert Kelly, the Central Bank’s Director of Statistics, said: “Despite the notable challenges the Irish economy has faced this year it has shown resilience throughout 2025.”<\/p>\n
He added: “Multinational sectors that predominantly export are adapting to a changing international environment for trade and investment, and so far that adjustment has been relatively benign for Ireland.<\/p>\n
“Domestic activity signals are more mixed, with data pointing to a slower pace of growth and higher inflation.”<\/p>\n","protected":false},"excerpt":{"rendered":"The Central Bank said it will be “challenging” for the Government to meet its target of building 300,000…\n","protected":false},"author":2,"featured_media":324099,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-324098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/324098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=324098"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/324098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/324099"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=324098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=324098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=324098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}