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The CSO published (26th April 2023) new dwelling completions data for Q1 2023. The data shows there were 6,716 new dwelling completions in the first quarter of the year, representing an increase of 19.1% for the same period in 2022.
Conor O’Connell, Director of Housing and Planning with the Construction Industry Federation said: “This represents a strong start to the year in terms of completions, which is good news for the industry and highlights how Irish Home Builders Association members are working hard to meet, and exceed, annual housing delivery targets”.
The findings report that apartment completions for Q1 2023 totalled 2,427, an increase of 41% compared to Q1 2022. While this appears to be positive news, it is worth noting that the CSO’s previous data that was published regarding planning permissions for 2022 highlighted that only 34,177 units had been granted planning permission for 2022, representing an annual decrease of 21%.
Of this, apartments saw the largest decrease in volume, at 36%. It is therefore worth considering that while the completions data for the start of the year is positive, housing supply for the coming months will need to be closely monitored given that planning permissions had decreased. This also highlights the need for a robust planning system that can deliver homes urgently needed, as well as addressing viability concerns faced by the sector in apartment delivery.
Conor O Connell said: “We therefore would like to again emphasise that we welcome the Government’s recent announcement of measures to aid housing delivery.”