DAVY VIEW

There are no major surprises in the draft Programme for Government, and higher levels of housebuilding will be ambitiously driven in the rest of the decade. First-time buyers will receive more help, and social/affordable building will be heavily funded by the state. Modern methods of construction (MMC) will also be further embraced. We think a focus on build costs is a missing piece and encourage the new government to address this in the next year. We believe that the two listed Irish builders are ideally placed to help solve the problem of undersupply and should both see increased opportunity within this plan.