Wednesday 17 January 2018

Stark statistics as lowest number of new homes built since records began

Paul Melia

Paul Melia

HOUSE completions have fallen to their lowest level since records began.

Just 2,766 new homes were built in the first three months of the year, down 40pc from 2010, new figures reveal.

It is the lowest level since records began in 1975.

Almost 15pc of the total have been built in Cork (363), according to the Department of the Environment figures.

It is followed by Fingal (183), Dublin City (174), Donegal (159) and Galway and Kildare (152 each).

In 2006, at the height of the boom, a total of 93,419 homes were built -- 21,974 in the first three months.

This fell to 7,611 in 2009 and to 3,759 in 2010.

Estate agents said the record low meant that just 12,000 units were likely to be completed this year.

"This is a reflection of how the construction sector has rapidly adjusted," Savills head of research Joan Henry said.

The Construction Industry Federation said it was unlikely that activity would increase in the short term.

Irish Independent

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