The housing output over 2025 could be as low as 32,000 units, a new report has forecast.

It would fall far short of the Government's stated ambition of up to 50,000 new homes a year until 2030.

The Mitchell McDermott Annual Construction Sector Report said macro indications show we will produce less housing over the next two to three years than we did in 2023.

One of the authors of the report Paul Mitchell said that right now we're not going to get close to what's needed.

“It is possible to achieve it, but we'd have to ramp up,” he said.

“So we're not going to do 50,000 houses in 2025 - we'd need to scale up.

“We've known the issue for a number of years.

“Certain things have been done, and they've helped, but dramatic change is required to reach those targets.”

According to the report, only 40% of the 200,000 "fast tracked" housing unit applications submitted since 2019 have commenced or are being constructed.

“To go from 200,000 down to 80,000 is an extremely high mortality rate, and it shows that we need to address the blockages which are stopping construction,” Mr Mitchell said.

These blockages include planning, judicial reviews, infrastructure and funding.

A housing development under construction, Carrigaline, County Cork. Image: David Creedon / Alamy Stock Photo