Saturday 21 September 2019

Revealed: How many new homes were completed in the first three months of 2019

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Charlie Weston

Charlie Weston

THERE has been a rise in the number of new homes completed in the first three months of the year, but economists said completions are still not keeping pace with demand.

A total of 4,275 homes and apartments were completed in the first quarter, up 23pc on the same period last year, according to the Central Statistics Office.

A quarter of the homes built were one-off properties, with one in seven apartments.

The largest increase was in apartments, with 613 new apartments completed in the first three months of the year. This was a rise of 28pc on last year.

There has been a surge in fast-track applications for build-to-rent apartment blocks from developers, with most of these unlikely to go on sale to families.

So-called cuckoo funds have been accused of flooding the market with funding to purchase homes and apartments, edging first-time buyers.

The figures show that there were 2,564 housing schemes finished in the January to March period, a rise of 27pc.

One-off building completions were up 13pc to 1,098.

Housing scheme dwellings made up 60pc of all new dwelling completions in the first quarter while 26pc were single dwellings and 14.3pc were apartments.

Three-quarters of all new homes completed were in urban areas, according to the CSO.

Dublin saw 487 new apartments completed, making up over three-quarters of all new apartments completed in the first three months of the year.

The number of new home completions was highest in Dublin at 1,488. It was followed by the mid-east at 1,072.

When combined, Dublin and the mid-east counties of Kildare, Louth, Meath and Wicklow made up 60pc of all housing completions in the three month period.

Outside of Dublin, there were five counties which had 100 or more new scheme dwellings in the three month period –  Meath, Kildare, Louth, Wicklow and Cork.

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