CSO data shows strong growth in delivery of new homes
Data published today from the Central Statistics Office (CSO) show that 29,851 new homes were built in 2022, an increase of 45.2% when compared with 2021, exceeding the Housing for All target of 24,600 homes for the year.
Commenting on this latest CSO data on new home completions, Director of Property Industry Ireland, Dr. David Duffy said: “Despite the challenging environment for viability, the growth in new home delivery in 2022 by the homebuilding sector represents a significant upscaling of output by the sector, exceeding the Housing for All target for the year by just over 21%.
“At the moment it looks like 2023 will be a more challenging year for new home building. New home commencement data show a decline in 2022 when compared with 2021. High input and funding costs are negatively impacting on viability and delivery, particularly for apartments. We saw in the data for last year (2022) that apartments accounted for approximately one third of new home output. This suggests the Housing For All targets for the next couple of years could be more difficult to achieve.
“Growing the collaboration between the public and private sectors, such as the recent Housing for All stakeholder conference, to address the different viability challenges and barriers to supply is important.”