Sunday 25 September 2016

Level of home completions far below needs

Published 12/05/2016 | 02:30

Official projections suggest that some 25,000 units are needed annually to provide a ‘normal’ level of supply. Last year, just over 12,600 were delivered (Stock picture)
Official projections suggest that some 25,000 units are needed annually to provide a ‘normal’ level of supply. Last year, just over 12,600 were delivered (Stock picture)

The number of homes completed in March fell to just 1,032, a drop compared with February and less than half the number needed to meet demand.

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Official figures from the Department of the Environment show that some 3,144 houses and apartments were completed in the first quarter of the year - up 20pc on the 2,629 built in the same period of 2015.

But the number of homes delivered in March was far short of the 2,100 needed. The figures show that just 79 units were completed in the high-demand areas of Dublin city (50), Cork city (27) and Galway city (two). Another 246 were completed across the other three Dublin local authorities - 11 in South Dublin, 69 in Dún Laoghaire Rathdown and 166 in Fingal.

Official projections suggest that some 25,000 units are needed annually to provide a 'normal' level of supply. Last year, just over 12,600 were delivered.

The lack of delivery comes despite a number of Government interventions, including reducing development levies in an effort to boost supply.

The figures also show that in March, fewer than ten units were completed in Sligo (6), Leitrim (8) and Carlow (5).

Irish Independent

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