There was a 14 per cent year-on-year decline in new housing units commenced in the third quarter of 2022 and, if this downward trend continues, overall completions will fall, it said.
The Government’s Housing for All strategy, launched in September 2021, commits to delivering 33,000 housing units on average every year, though experts warn significantly more units will be required to address chronic supply shortages in the housing crisis. It is estimated about 6,500 new social housing units will be delivered in 2023, some 2,500 units below target. Less than 1,000 affordable units are expected to be delivered for 2022.
This has resulted in fewer properties being available to accommodate homeless people and the problem has been exacerbated by large numbers of private landlords leaving the market.