Officials have expressed concerns that the Government will not meet its housing completion targets for the next three years, primarily due to a notable decrease in residential construction activity seen in late 2024. The Tánaiste noted that forecasts in this area are inherently uncertain and influenced by various unpredictable factors. The Central Bank's assessment highlights the potential struggles ahead for policymakers in achieving their housing ambitions amidst a challenging construction environment.
Officials are anticipating that the Government will fail to meet its housing completion targets over the next three years, attributing this to unforeseen challenges.
The Tánaiste emphasized that projections regarding housing completions are imperfect, suggesting that unexpected variables can significantly influence residential construction outcomes.
A significant decline in residential building activity has been observed at the close of 2024, which raises concerns about future housing supply and meeting planned objectives.
The Central Bank's analysis underscores the difficulties ahead, indicating a bleak outlook for the completion of new homes as desired by policy makers.
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