Quarterly Report Shows House Building Increased By Over 30% Last Year

House building activity increased by over 30% in 2016 according to the latest figures from the Construction Industry Federation (CIF).

 

Tom Parlon, Director General CIF said:

 

“All measures of house building activity and housing output show a strengthening trend as we begin 2017. However, the planning environment and access to development finance will continue to be critical factors for all involved in the house building sector. 2017 will see housing supply remain as a key issue confronting industry and Government.  A number of measures have been put in place that will help generate supply but pockets of the industry, particularly in the regions, can secure sources of finance to make building viable again.  This could potentially have a negative effect on regional growth and undermine job creation and spatial strategies such as the National Planning Framework.  Measures must be taken to provide finance to regional housebuilders in tandem with the recent measures taken at national level such as the local infrastructure fund and the help to buy initiative.”

 

A total of 5,626 residential units were registered in 2016, which represents a significant increase (30.9%) on house building activity carried out in 2015.

 

Dublin saw the majority of housing units registered last year with a total of 3,223 homes built, but house building activity across the country is also strengthening.

 

According to the CIF House Building Activity Report, published this week, a total of 11,320 residential units were commenced in the 11-month period January to November 2016.  This figure represents an increase of 46.5% (3,593 units) on the total number of units commenced during the first 11 months 2015.

 

Similarly, individual/One Off housing units, which represented just 35.6% of total commencements, increased by 33.1% on the same period in 2015.

 

Urban centres such as Cork and greater Dublin continue to experience the most concentrated levels of new housing supply with 1,419 and 6,209 new units commenced respectively last year.

 

A total of 13,376 residential units were completed in the 11-month period January to November 2016, which represents a 18.2% increase in activity on the same period in 2015. The average monthly completion figure currently stands at 1,216 units.

 

In the last House Building Activity Report,  the CIF estimated that circa 14,000 residential units would be completed by the end of 2016. However, increasing levels of activity towards the tail end of the year have increased output levels and we can therefore expect this figure to result in circa 14,500 units.

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