NI facing shortage of new homes: report
Northern Ireland must continue to keep up with housebuilding to ensure it's not left with a major shortfall, it has been claimed.
According to the Housing Market Symposium Report for 2017, previous base targets of 7,200 new properties each year may not be enough.
The paper says that "using the figure of 7,200 as a baseline, the relatively low level of supply (mainly by the private sector) means there has effectively been an undersupply that roughly equates to a requirement for an additional 2,000 dwellings annually (over and above the 7,200) to up to 2025".
John Armstrong, managing director of the Construction Employers Federation, said: "Since the revision of the housing growth indicators (HGI) in 2016 to a requirement of 7,200 new builds in Northern Ireland each year to 2025, industry has consistently expressed its concerns as to the method of calculation that was employed in moving from the previous target of 11,000 new homes (to be built)per annum.
"This report now very clearly details that the 7,200 figure is no longer relevant.
"Indeed, the actual HGI now stands at 9,200 new build homes in Northern Ireland each year to 2025.
"As each of the 11 local councils are currently drafting their local development plans for, at least, the next 10 years, it is absolutely critical that councils are made aware of and act on this significant development."