Wednesday 16 August 2017

Rise in the sales of new homes being driven by key locations

Stock photo
Stock photo
Paul Melia

Paul Melia

While the number of new homes sold in the first half of the year has risen, the data from the Property Price Register (PPR) shows it is largely being driven by output in the Greater Dublin area and two cities.

Of the 3,130 new homes registered as having sold in the first half of the year, 2,455 - or almost 80pc - were in Dublin, Kildare, Meath, Wicklow, Cork and Galway.

Only in Dublin and Meath did sales of new-builds increase by more than 100 units. Conversely, in Cork and Galway the number of new homes sold fell compared with the same period of 2016.

The figures also show:

The number of new homes sold increased by 85pc in Meath, up 117 to 255 in the first half of the year;

In Dublin, sales were up 463 to 1,356. In Wicklow they rose by 18 to 129, and by 34 to 260 in Kildare;

Conversely, the number of new units fell in Cork, down 26 to 336, and Galway, which dropped 28 to 119;

The number of new homes sold fell in 13 of the 26 counties;

In Longford, just 11 new homes sold, compared with 33 in the first half of 2016.

The figures also suggest that criticisms that official house completion statistics are over-stated are grounded in reality.

While the Department of Housing says that just under 15,000 new homes were completed last year, this is based on the number of units connected to the ESB network.

But the PPR shows that just over 6,450 transactions across 2016 involved new homes, raising questions as to the accuracy of the official figures.

Irish Independent

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