Record rise in housing starts in last 12 months

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New figures from local authorities show there has been a big rise in housing starts.

The latest official figures contradict some recent commentary which claimed house building was stalling due to Brexit uncertainty and house price rises.

There were 7,596 commencements in the July to September quarter.

This is a rise of 33pc on the year.

In Dublin, there were 2,648 housing starts, a rise of 27pc, according to figures compiled from local authorities across the State.

In the year to September there were 26,100 starts, according to the Irish Building Control Management System (BCMS) commencement notices.

The BCMS is a statutory register compiled by using figures submitted by county councils.

A commencement notice from a local authority is required before building can start.

The fact that the construction of more than 26,000 houses has commenced means builders have started 8,000 more houses than were completed last year.

And the number of commencements is a fresh high, according to an analysis of the figures by Davy Stockbrokers.

Conall Mac Coille, an economist with Davy, said there was a recovery in housing starts and it had further to run.

"The analysis by some commentators that weaker house price inflation and Brexit uncertainty were depressing home building is clearly well wide of the mark," he wrote in a note to investors.

Earlier this month, the Government's housing strategy was questioned after a report claimed housebuilding in Dublin had stalled in the second quarter of this year, despite a severe shortage of properties to rent or buy.

The Dublin Economic Monitor, compiled on behalf of the city's four local authorities, showed that housing completions in the capital fell by almost 14pc to 1,628 during the three-month period.

 

This article was first seen on https://www.independent.ie/business/personal-finance/record-rise-in-housing-starts-in-last-12-months-38683336.html

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