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More houses in Ireland’s housing sector, but not lower prices

Dublin: The housing sector could see more than 30,000 new homes completed by the end of this year, according to new revelations from the Banking and Payments Federation.

Meanwhile, data from the Central Statistics Office show that between April and June of this year, less than 7,400 units were completed, a 3.5 percent decrease from the same period last year.

BPFI attributed this to a drop in apartment completions of around 19%.

Only 14,100 houses were completed in the first half of the year. Construction increased by 6% during this period compared to the same period last year.

According to the report, the increase in the first seven months of the year is encouraging. There is a significant demand for housing to buy and rent. Thousands of newcomers are flocking to Ireland. As they all require housing, more homes are required to be built each year. Prices are expected to rise in response.

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