Housing plans at risk as cost of building materials continue to soar, Central Bank warns

The regulator says mismatch between the demand and supply of homes is pushing prices to new highs, while rents are increasing at fastest rate in six years

Gabriel Makhlouf, governor of the Central Bank, is set to recommend to the Minister for Finance that he reintroduce the rainy day fund to store excess corporation tax receipts

Soaring construction costs risk scuppering planned housing developments and curtailing the supply of new homes just as house prices are set to crash through their Celtic Tiger peak, the Central Bank of Ireland has warned.

The regulator said prices had risen at their fastest rate since early 2015 in the year to March 2022 to sit at 98 per cent of their credit-fuelled 2007 peak, while rents which had been falling in 2021 were now ...