Finance Minister Michael Noonan has said there is a housing supply shortage in Dublin. According to a report by BreakingNews.ie, the Minister dismissed the notion of a 'property bubble' in the city. He added that claims of Ireland being at the start of another property boom are exaggerated, with house prices still significantly lower than they were at the peak of the housing market. Mr Noonan explained: "What I was getting at, and I might not have explained it very well, was that we need new family homes to be built in Dublin, but the price on the market must be above the cost of the build. "Otherwise, no houses get built. You need to have it at least equal to the cost, with a margin for the developers. "There are plans across the city to have building of family homes again, and that's badly needed."

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(JP/MH)