An estimated 53,000 new homes will be needed each year based on the estimated growth of the population by 2040. That's the finding from a new report from the ESRI which also shows housing demand is expected to be about 44 thousand a year between now and 2030. Population growth is expected to increase by 922,000 by 2040 making the total population on the island of Ireland an estimated 6.1 million.
Research officer with the ESRI Paul Egan says the figures are bases on the expected population growth; "Owing to the uncertainty in any projection exercise, the research considers a range of assumptions. It should also be noted that all scenarios relate to future demographic housing demand and do not factor in current pent-up demand."
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