Wednesday 29 March 2017

Highest number of new homes in five years built

The Housing Agency says that around 21,000 units are needed every year to restore the market to normal levels. Photo: Stock photo
The Housing Agency says that around 21,000 units are needed every year to restore the market to normal levels. Photo: Stock photo
Paul Melia

Paul Melia

More than 6,600 new homes have been completed in the first half of the year, the highest number since 2011.

New figures to be published by the Department of Housing today show that 6,642 units have been completed across the country between January and June, an 18pc increase on the same period of 2015.

Not since 2011 have the number of completions in the first six months of a year been so high, but they are still below the level needed to meet demand.

The Housing Agency says that around 21,000 units are needed every year to restore the market to normal levels.

Based on current completion rates, the number of houses and apartments likely to be delivered by the end of the year will be below this level.

Data on house starts also shows an increase of 41pc year-on-year, up to 5,125, but there have been drops in Dublin City and Fingal, two areas of high demand for new homes.

In Dublin, where demand is highest, some 1,993 units were completed, up 45pc. Across the Greater Dublin Area, which includes the capital and Wicklow, Meath and Kildare, some 2,830 units have been completed, up 36pc.

Apartments make up one-third of all new homes in Dublin, and 17pc nationally. Scheme houses represented 57pc of Dublin's completions, and 42pc nationally.

"I am pleased that in general the statistics show an overall increase under the main headings both in Dublin and nationally," Housing Minister Simon Coveney said. "I recently launched 'Rebuilding Ireland - Action Plan for Housing & Homelessness' and this provides for a series of actions to get the supply side moving. I am confident that we will see an increase in the supply of housing as we implement the plan."

The figures also reveal:

  • Of the total units completed nationally, some 2,724 were one-off homes (41pc), 2,815 were in estates (42.4pc) and 1,103 (16.6pc) were apartments.
  • The highest number of units were built in Fingal (827), followed by Cork County (624), Dublin City (500) and Kildare (358).
  • The sharpest rate of increase was in Dun Laoghaire Rathdown, up 51pc to 539, followed by Westmeath (up 50pc to 111); Meath (48pc to 298), Fingal (up 47pc to 827) and Wexford (up 45pc to 289).
  • House completions fell in 13 or the 31 local authorities. The sharpest drop was in Offaly, down 30pc to 71 units.

Irish Independent

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