Despite rapid growth in the number of new homes been built, housebuilding in Ireland remains amongst the lowest in the EU on a per capita basis. The statement comes as confusion reigns as to the actual number of new builds being completed across the country.
According to a new report from Goodbody Stockbrokers, based on the number of new BER certificates being issued, 754 homes were completed in Ireland in March 2018, up by 43 per cent on the year. A similar rate of growth (45% ) was recorded in the first quarter of the year, when some 2367 units were completed, “confirming the strong growth momentum in the new housebuilding sector in Ireland” economist Dermot O’Leary said.
The latest rapid growth means that for the first time in the Goodbody series, BER certificates issued over the past twelve months have exceeded 10,000 units .
Geographical spread
Again there is a concentration of new supply in the greater Dublin area, accounting for 46 per cent of the total, although the the fastest growth was in Dublin’s commuter counties, up by 80 per cent year on year. The greater Dublin area (GDA) accounted for 72 per cent of the units completed in the first quarter.
However, when looked at on a per capita basis, Meath emerges as having the greatest level of completions (5.2 per 1000), followed by Kildare (4.1), Dublin (3.9) and Wicklow (2.8), all in the GDA. Looking outside this region, supply slumps even further, with 16 counties completing between 0-1 units per thousand.
When it comes to the type of property, semi-detached houses remain the most popular, accounting for 41 per cent of all builds in the first quarter, followed by detached, at 21 per cent. Apartments accounted for 15 per cent of new units but continue to be almost exclusively a Dublin phenomenon.