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It'll Take 43 years To Fill Empty Houses...

200,000 homes may need to be bulldozed -- bank AN explosive report has claimed that Ireland has so many empty houses that it would take up to 43 years to fill them all. Deutsche Bank figures suggest that there are 289,451 empty houses in Ireland, including almost 60,000 vacant holiday homes. This represents a vacancy rate of 15 per cent. As the Deutsche Bank map shows, the empty properties are highly concentrated around the Atlantic coast with Kerry and Donegal particularly badly afflicted. This glut of empty homes will have a major impact on future property prices. "Demand for housing is the key factor as to how long it will take for this oversupply to be reduced, and aside from demand for second homes the key driver should be population growth," Deutsche Bank notes. Based on 2011 figures which showed population growth of just 13,000, and the average number of residents per house, the bank estimates that it could take until 2055 for the glut of houses to be worked through