The Central Bank has revised down the number of houses it expects to be built - again.
Its latest Quarterly Bulletin forecasts 32 thousand 500 homes will be built this year, as completions came in below expectations for quarter one. Commencements also dropped sharply, which the bank says is down to the anticipated effect of the ending of the development levy and Irish Water rebate.
Robert Kelly from the Central Bank says the resources simply aren't there to boost much-needed housing numbers:
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