May’s monthly commencement data published

The Department of Housing, Local Government and Heritage has published its monthly data on the number of Commencement Notices (residential construction starts) for May 2024.
The data shows that there were 32,121 units commenced in the first five months of 2024, more than double – up 147% – from 12,987 in the same period of 2023. The figure for the first five months of 2024 is now 98% of the total (32,801) for the whole of 2023. 
In the last 12 months (June 2023 to May 2024) there has been 51,935 units commenced, up 86% from 27,855 in the prior 12 months (June 2022 to May 2023).
For May 2024 there were commencement notices for 1,983 new homes. This is a reduction of 35% on May last year when 3,059 units were commenced and can be attributed to the introduction of the development levy waiver and the Uisce Éireann connection charge rebate which were introduced in April 2023 to fast track more development and make more projects viable. 
These measures were due to expire in April 2024 and as evidenced triggered a surge in commencement activity in April 2024 as that deadline approached. The subsequent decrease in commencement notices in May 2024 reflects the large amount of activity fast tracked into April. 
As the waivers have been so effective in fast tracking activity, they have now both been temporarily extended.
The full commencement data set can be accessed at: Construction Activity Statistics