New home builds on the rise in our cities
THE number of new homes being built in our cities is on the rise.
New figures show that work began on 910 houses and apartments in Cork, Galway, Dublin, Waterford and Limerick cities last year, more than double those in 2011.
But the number of new homes due to come on stream in the coming years is still paltry in comparison with 2007 – the height of the property boom.
Then, work began on almost 49,000 units across the country. Last year, the number fell to just one-tenth of this – or 4,042 units.
The figures come despite an overhang of unsold residential properties across the State, but amid concerns there is a shortage of family-sized homes in the cities coming on stream.
The figures, compiled by the Department of the Environment, show the emergence of a two-speed property market, with an increase in activity in the cities but a decline across most counties.