Around 70 representatives from lenders, banks, developers and social housing bodies attended the real estate conference focused on “Housing and Planning for the Future”.

Joe Stanley, partner and head of real estate at the firm, said: “Despite all the challenges of the past number of years, we believe that Ireland will continue to develop as the jurisdiction of choice for internationally focused companies and their global leadership.

“Further potential economic growth is another reason to solve our housing situation; for our own citizens first and foremost, but also for future inward investors and indeed for business across all sectors.”

The purpose of the event at the Conrad Hotel was for the minister to provide details of planned housing initiatives under the Housing for All plan and to ignite a discussion among those assembled in the room, several of whom have the tools to assist with the solution.

Speaking at the event, Mr O’Brien said that while not everyone is feeling it, a lot of progress has already been made. He highlighted the three measures announced last week targeted at activating supply and getting the nation building, i.e. the time-limited exemption from development levies and water connection fees, the increased Vacant and Derelict property Grant, and the new Cost Rental viability measure.

The minister said: “We have never dedicated more time, resources or expertise towards housing in this country. Our commitment to tackling this challenge and solving it for good can be seen by simply looking at the funding.

“In 2016, capital funding for housing stood at €400 million. In Budget 2023, we haven’t doubled or even tripled that figure but multiplied it by a factor of 11. €4.5 billion has been made available for the delivery of housing programmes this year, the highest total in the history of the State.

“The whole of government wants exactly what everyone else wants: to fix this problem once and for all. Everyone here knows that supply is the key to solving our housing challenges.

“Commencement notices for 3,244 new homes were received in March 2023, the highest number received in the month of March since records began in 2014 and it is an increase of 15.5 per cent on the number of new homes commenced in the same month last year and 62 per cent more than in February 2023.

“Also, 6,716 new homes were completed in the first three months of 2023 — the highest Q1 figures since the data series began.”