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Housing supply after the crisis

Author

Listed:
  • Kennedy, Gerard

    (Central Bank of Ireland)

  • Stuart, Rebecca

    (Central Bank of Ireland)

Abstract

The scarcity of housing units is one of the main issues facing the Irish residential property market at present. Much attention has focussed on the shortage of new home completions, which declined dramatically in the wake of the financial crisis. This Letter draws together information on housing supply in Ireland from a number of sources to place current developments in the context of economic theory and international comparison. In doing so, both the impact of the financial crisis on housing supply, and the more recent introduction of macroprudential measures by the Central Bank are considered.

Suggested Citation

  • Kennedy, Gerard & Stuart, Rebecca, 2016. "Housing supply after the crisis," Economic Letters 12/EL/16, Central Bank of Ireland.
    • Handle: RePEc:cbi:ecolet:12/el/16
    as

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    File URL: https://centralbank.ie/docs/default-source/publications/economic-letters/economic-letter-vol-2016-no-12.pdf?sfvrsn=6
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    References listed on IDEAS

    as
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    4. Kennedy, Gerard & Stuart, Rebecca, 2015. "Macro-prudential measures and the housing market," Economic Letters 04/EL/15, Central Bank of Ireland.
    5. Duffy, David & McQuinn, Kieran & Morley, Ciara & Foley, Daniel, 2016. "Quarterly Economic Commentary, Summer 2016," Forecasting Report, Economic and Social Research Institute (ESRI), number QEC20162, march.
    6. Kenny, Geoff, 2003. "Asymmetric adjustment costs and the dynamics of housing supply," Economic Modelling, Elsevier, vol. 20(6), pages 1097-1111, December.
    7. Mr. Malhar S Nabar & Mr. Ashvin Ahuja, 2011. "Safeguarding Banks and Containing Property Booms: Cross-Country Evidenceon Macroprudential Policies and Lessons From Hong Kong SAR," IMF Working Papers 2011/284, International Monetary Fund.
    8. Topel, Robert H & Rosen, Sherwin, 1988. "Housing Investment in the United States," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 718-740, August.
    9. Wing Hsieh & David Norman & David Orsmond, 2012. "Supply-side Issues in the Housing Sector," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 11-20, September.
    10. Duffy, David & Foley, Daniel & McQuinn, Kieran & Mc Inerney, Niall, 2016. "An Empirical Assessment of the Macroprudential Measures in the Irish Housing Market," Research Notes RN2016/3/1, Economic and Social Research Institute (ESRI).
    Full references (including those not matched with items on IDEAS)

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