Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

Given the fall-off in construction which happened during the crisis from 2006 and 2013 that I alluded to, obviously supply is the crucial factor in terms of stemming inflation. As we have huge demand and do not have enough stock to meet that demand, we therefore have to increase supply across a number of fronts. Increasing supply means different things. Of course, it means building new homes. We need to work out who builds those homes and for whom. It also means managing stock. The country has a huge number of vacant homes and we also have vacant space or what might be called stranded assets above shops in towns and villages. All of that needs to be looked at. We need targeted measures through the supply of new homes and the management of existing stock.

Year on year to March of this year, completions have increased by almost 40% and ESB connections in Dublin have increased by one third. That shows that work is being done, that Rebuilding Ireland is working and that there is new supply coming into the market.

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