Developers are not being attracted back to the housing market because houses are too expensive to build, according to housing organisation Respond.

The organisation also claims that emigration has led to drain of talent in the construction industry.

CEO of Respond Ned Brennan said that that it could be years before we have an adequate number of houses to meet demand.

"There is no solution in the short term," he said.

"The reality is that any solution that's going to be delivered will be a medium-term solution.

"Even if we start our planning and development processes in 2016, there is at least a 36-month lead-in period from looking at a Greenfield site to delivering a housing development.

"So really, we won't see houses coming though to any great extent until 2019, 2020."