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Economic policy issues in the Irish housing market

Author

Listed:
  • Conefrey, Thomas

    (Central Bank of Ireland)

  • McCann, Fergal

    (Central Bank of Ireland)

  • O'Brien, Martin

    (Central Bank of Ireland)

Abstract

The capacity of housing supply to meet underlying demographic needs is a key driver of sustainable growth in living standards. Following the Global Financial Crisis, the Irish housing market has been subject to more than a decade of under-supply. Over this period, house price and rental growth have outstripped income growth, stretching affordability. While these challenges have a global dimension, housing output as a share of national income here has been significantly below the euro area average for a prolonged period.

Suggested Citation

  • Conefrey, Thomas & McCann, Fergal & O'Brien, Martin, 2024. "Economic policy issues in the Irish housing market," Quarterly Bulletin Articles, Central Bank of Ireland, pages 68-119, September.
    • Handle: RePEc:cbi:qtbart:y:2024:m:09:p:66-119
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    File URL: https://www.centralbank.ie/docs/default-source/publications/quarterly-bulletins/qb-archive/2024/quarterly-bulletin-q3-2024.pdf?sfvrsn=a87b661a_5
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    References listed on IDEAS

    as
    1. Ciccarelli, Matteo & Kuik, Friderike & Martínez Hernández, Catalina, 2023. "The outlook is mixed: the asymmetric effects of weather shocks on inflation," Research Bulletin, European Central Bank, vol. 111.
    2. Ciccarelli, Matteo & Kuik, Friderike & Martínez Hernández, Catalina, 2023. "The asymmetric effects of weather shocks on euro area inflation," Working Paper Series 2798, European Central Bank.
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