THE NUMBER OF new homes built in 2018 rose by 25% compared to the year previous, according to the Central Statistics Office (CSO). 

The total number of new dwellings completed in 2018 was 18,072, an increase of 25.4% to the 14,407 built in 2017. 

There were 5,522 new dwellings completed in the fourth quarter of 2018, compared with 4,567 completions in the fourth quarter of 2017. 

Scheme dwellings made up 61.1% of all new dwelling completions in quarter four of 2018, while 24.7% were single dwellings and 14.2% were apartments. 

The number of new dwellings completed in 2018′s fourth quarter was highest in Dublin at 2,069 followed by 1,253 in the mid-east. 

Together, Dublin and the mid-east made up 60% of all new dwelling completions in the fourth quarter of 2018. 

The CSO also found that the average size of a new dwelling fell by 4.9% in 2018. This continued the decline in the average new dwelling size index since its peak in 2012 which reflects the shift from single to scheme dwelling completions over the period.

Criticism 

Despite the number of new homes being built in 2018 rising by 25% compared to the year previous, the government has been criticised for today’s figures.

Institute of Professional Auctioneers & Valuers (IPAV) CEO Pat Davitt said the low levels of new apartments being completed last year point to the structural problems that “still haunt the property market”. 

“More apartments are needed in the cities in particular where demand is greatest and affordability is an issue, but they are not coming on stream at the kind of levels needed,” he said. 

He added that his organisation is in total agreement with the position of the Dáil’s Housing Committee report today which concludes that existing issues in the housing market could be worsened by Brexit.

“The structural issues around planning, the cost of building and the excessive cost of building finance for SME builders, in particular, remain as major impediments to the supply of homes which have become endemic since the financial crisis,” he said.

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