Market Comment - Census 2016 reveals housing supply/demand imbalance more severe than expected

Davy Research
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Census 2016 data released yesterday (April 20th) showed that the Irish housing stock is significantly lower than first estimated at 2,003,645 units, up just 8,800 since 2011. Homebuilding has only just kept pace with obsolescence given housing completions of 50,000 over the same period. This suggests that the true level of housing demand may be close to 40-50,000 units per annum.