The publication showed that 8,452 new homes were completed in Quarter 3 of this year. This is an increase of 14.4% on the same three months of 2022 (7,388 units). Overall a record 22,443 homes have been completed in the first nine months of 2023 so far - an 8.9 % increase on the same period in 2022 and the highest number of completions recorded for the first three quarters of any year since the CSO data series began in 2011.
Today’s information also shows:
• Apartment completions rose 47.3% in the 12 months to Q3 2023
• There was a 36.7% rise in completions in Dublin
• Significant rises also in the Midlands (25.9%), Border (14.9%) and Mid-West (13.8%) regions
Minister O'Brien said:
“Supply is central to dealing with all the key challenges in housing. All the key indicators are trending upwards. The number of planning permissions for the first nine months of this year were up. In the same period, the number of new build homes commenced was almost 24,000 homes - a 14.3% increase on the same period last year. And now, today’s CSO figures on completions show supply is increasing and that we are going in the right direction.
Our housing target for 2023 is 29,000 new homes and today’s news strongly signals that we will meet this target – if not exceed it. I also note that earlier this week that it was reported that the Construction Industry Federation were indicating that next year we could witness the biggest amount of housebuilding since the Celtic tiger era.
All of this momentum is welcome but we are not complacent. I have always said that there is no one single magic bullet to solve the housing crisis but rather a variety of complementary initiatives and reforms. Whether it’s planning reforms, new supports for prospective home buyers, cost rental and other initiatives for tenants or incentives to encourage more construction, this Government is leaving no stone unturned to deliver on our targets under Housing for All.”
The CSO data can be accessed here at the CSO webpage.