CSO issue new dwelling completion figures for Q1 2018 - 3,526

https://cso.ie/en/statistics/constructi ... mpletions/

For comparison the data set was back-captured to 2011

14.4k new dwelling built in 2017 - up 47% on 2016 and a massive 215% on 2014.

However 4,575 new dwellings in 2014 is a tiny number when compared to a national stock of 2m properties

The CSO is credible in my eyes. I certainly see no reason to disbelieve the figures, although it will be interesting to see if anyone has legitimate criticisms over the next day or two.

Still far more homes need to be built every year of course. Apartments is the big lacuna at the moment. 2k built last year. Needs to be at a minimum 10k per annum to meet demand. Probably closer to 20k over the next decade realistically if the economy keeps growing well.

Comparing sales of new houses in the PPR with the figures there is a pretty good correlation, particularly if you allow for the time lag between completion and sale. The interesting thing is whether we see that 14.4k figure from 2017 come through this year. There were 1960 new homes sold in Q1 (and I think it's fair to assume that all the figures are in for Q1) compared to 1594 in Q1 last year - that's only a 20% increase compared to the increase of about 50% in the CSO figures. If you extrapolate to the year (assuming the same pattern of new sales) 9110/1594 * 1960 is 11201 or 23% more. It will be interesting to see how this goes.



* Year so far
** Q1

Definitely a correlation but the growing buy to rent sector will skew the figures somewhat

New Dwelling Completions Q1 2018

https://www.cso.ie/en/releasesandpublic ... 8/ndcq118/