CSO data shows positive growth in planning permissions
Commenting on the latest Central Statistics Office data on planning permissions, Director of Property Industry Ireland, Dr. David Duffy said: “Today’s data shows welcome annual growth in planning permissions in Quarter 2 (Q2), 2022, up by 2% on the same period in 2021.
“Planning permissions for multi-development houses grew by 28.2% compared with Q2, 2021. This suggests a strong ambition for the delivery of new homes by the property sector and a positive response to the range of initiatives in Housing for All. Continuing the momentum of the ongoing work on planning reform is crucial for future delivery.
“Planning permissions over the last year have risen to an annual total of 44,715 homes. A key challenge in the delivery of the homes that now have planning permission is viability. Many of these decisions relate to applications made in the first quarter of the year. The new home delivery environment is becoming more challenging. Interest rates have risen, increasing the cost of debt. There has also been an increase in the cost of raw materials. Both these factors impact significantly on the viability of future delivery.”