The Government is set to review housing targets in its Housing For All plan as Cabinet was told yesterday of the "significant emerging challenges" facing housing.

Taoiseach Micheál Martin and Housing Minister Darragh O'Brien briefed Cabinet on the flagship housing plan, announced just over a year ago.

Ministers were told that wholesale prices for construction materials rose by 17% in the 12 months to September 2022, affected by issues such as pandemic-related stoppages, increasing wages, depleted inventories and Brexit-related transport problems. Construction inflation, along with rising energy prices and interest rate hikes, make homes "costlier and slower to build", Cabinet heard.

The Government expects to meet its housing target for this year, with 24,600 new homes expected to be delivered by the end of the year.

The target of 29,000 new homes by the end of 2023 will remain the same but other targets in the plan will be subject to a review once data from the latest census is made available. A study is set to be completed by the end of the year to identify ways to reduce construction costs.

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Meanwhile, Mr O'Brien confirmed in response to a parliamentary question from Sinn Féin housing spokesman Eoin Ó Broin that 425 affordable-purchase homes and 490 cost-rental homes had been delivered by late October.

Mr Ó Broin said the Government "continues to be way behind their social and affordable housing commitment".

He said: "Nowhere in the Minister for Housing's 45-page report published today are we told how many of these much needed social and affordable homes have been delivered to date."