New home construction up 55% on last year

New home construction up 55% on last year

The number of new homes under construction is up 55% on this time last year, according to findings from the GeoView Residential Buildings Report.

Over 9,000 housing units are currently being built, with about two-thirds of those in the Leinster region.

In total, 9,251 buildings were classified as being under construction.

The majority of construction activity took place in urban areas, with the highest levels recorded in Dublin (34.9%), Cork (10.7%) and Meath (10.5%).

On the other end of the scale, the lowest levels recorded were Leitrim (0.2%), Longford (0.3%) and Offaly (0.5%).

The GeoDirectory report also found that the national average price in the twelve months to April 2018 was €273,206.

However, when Dublin is excluded, the national average falls to €198,906.

Dublin (€413,891), Wicklow (€354,113) and Kildare (€281,675) were the only counties to recorded property prices above the national average.

Commenting on the findings, CEO of GeoDirectory Dara Keogh, said: "The twelve months to June 2018 saw a significant increase in terms of residential construction activity.

"The report shows that the vast majority of this activity is taking place in Dublin and surrounding counties.

"However, despite this increase, house prices in urban and commuter counties continue to rise, showing us that demand is still outweighing supply by a great deal."

- Digital Desk

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