Financial mechanisms capable of funding the quantity and quality of housing in Ireland are necessary if the country is to meet demand for social housing, according to a new report released by the National Economic and Social Council.

The report discusses how to meet the aims of 'Construction 2020', a strategy proposed by the government that commits to providing social housing during the third quarter of 2014.

"This timely report provides an informative analysis to the discourse on the future shape of Irish social housing policy," a statement from the government said.

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The report describes three main channels of current provision - local authorities, housing associations and the private rental sector - and the problems these channels are facing, such as lack of supply due to borrowing constraints, increasing rents and limited availability of secure, affordable, long-term tenancy.

It said policies are required to "make renting more affordable and attractive which improves the overall stability of the housing sector." It describes the practice of cost rental, common in many European countries, and the importance of regulation.

The report also indicates a requirement for more direct public policy influence on housing supply and urban development. The Council argues that if housing provision is no longer to be developer-led, it will have to be led by some other identifiable actor or actors.

The Council also said new institutional arrangements will be required to ensure that the elements are worked on in a "coherent and mutually-reinforcing way".

(IT/MH)