Bulletin 24-3 Competitiveness and the Housing Market in Ireland

The National Competitiveness and Productivity Council (NCPC) is pleased to publish Competitiveness Bulletin 24-3 ‘Competitiveness and the Housing Market in Ireland’ which examines the implications of the housing market for Ireland’s competitiveness.  

The core objective of the NCPC, as set out in its Competitiveness and Productivity Framework, is to advance sustainable growth and well-being in Ireland. At present, the housing market effectively undermines the self-reported well-being of many persons (and households) and can de-limit their experienced quality of life.

The NCPC has commented on housing on many occasions over recent years, most recently in its Scorecard 2023 and Ireland’s Competitiveness Challenge 2023 reports. However, given the continuing challenge posed by the housing market and its negative implications for competitiveness, the NCPC has decided to return to the housing market in this Bulletin with a particular focus on this occasion on labour capacity constraints as they relate to the residential construction sector.

Addressing labour market constraints is crucial for Ireland’s ability to meet targets under Housing for All, as well as retrofitting and emissions targets under the Climate Action Plan. The NCPC believes that close attention should be given to the competing demands for labour across the construction sector and, in particular, the impact that this has on younger people competing for housing in the market.  Additionally, the NCPC believes that greater adoption of MMC is crucial to reduce pressures for labour demand in the construction sector.