Population of capital is up 27,000 in just a year, finds report
The increase in the number of people living in Dublin in the year to April roughly equates to the entire population of Carlow town, a new report shows.
Latest estimates indicate that the population of the capital expanded by 27,300 in the 12 months to April, bringing the total population of the Dublin region to 1.3 million, according to the latest Dublin Economic Monitor produced by DKM Economic Consultants.
The population of Carlow town at the time of the last census in 2011 was 26,719.
The monitor notes that housing supply is now "urgently needed" as the capital's growing population has placed added pressure on the existing stock.
It also found that unemployment rates in Dublin fell rapidly between April and June, as job creation accelerated.
The most recent unemployment rate was 8.1pc.
Passenger arrivals at Dublin Airport recorded strong growth in the first half of 2015, with more than six million arrivals over the period, while new cars licensed in Dublin in August were one-fifth higher than for the same period in 2014.
The report noted that during the boom years, the number of people living in Ireland grew strongly, as a combination of natural increase and inward migration brought the population up to levels last seen in the 1880s.
But Dublin's population did not grow at the same pace as the rest of the country, as many people were priced out of the Dublin market and were forced to relocate to the surrounding counties, the report states.
It says: "An interesting phenomenon has arisen in the last couple of years, however. While the population of the rest of Ireland stagnated, Dublin's population has grown strongly, up 2.4pc in the year to April 2015."
Growth levels in Dublin are difficult to understand, given the previous trend, it adds.
The strongest growth in the population is in the 5-14 age group, while the number of people aged in their 20s in both Dublin and the rest of the country fell. The population of those in their 30s grew in Dublin, but fell elsewhere.
"This might point to internal migration of families, rather than natural increase, as the main driver of growth in Dublin's young population," the report suggests.
It notes that consumer sentiment in Dublin weakened somewhat over the summer months from the record high in the previous quarter as consumers expressed caution around big-ticket purchases and the jobs market.
Austin Hughes of KBC Bank Ireland said consumers in the capital appeared to be taking a cautious view.
"It is important to note the consumer sentiment survey suggests that, on balance, Dublin consumers remain positive about the outlook for the economy, jobs and household incomes.
"Lately, however, worries about the global economy, the high-profile closures of Clery's and Boyer's and pressure on living costs in areas such as rents and insurance may have made them more concerned about the uneven nature of the upturn."