House-building in Dublin 'has stalled'

House-building in Dublin 'has stalled'

The latest Dublin Economic Monitor shows house-building in Dublin has stalled.

The rate of completions has fallen for the first time in four years. It fell by 13.7% during April, May and June to 1,628.

It is the first time the figures have fallen since 2015.

Commencement notices have also dropped; they are down by close to a fifth.

Rents are rising, and are up by 7% on last year to €1,700 a month on average.

A report on international cities earlier this year found that Dublin was now the seventh most expensive place in the world to build.

The international construction market survey by global professional services company Turner & Townsend said Dublin is the third most expensive city in Europe for construction costs, behind only London and Zurich.

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