Housing demand outpaces supply despite a surge in commencements

Meanwhile, across the country, many people may be getting caught paying more for rent than they would for a mortgage and subsequently struggling to save enough to get on the property ladder

GeoDirectory chief executive Dara Keogh said the annual increase in address points combined with increased construction activity 'suggests a strong performance in terms of housing delivery for 2024'. 

Housing demand outpaced supply despite a surge in construction commencements in recent months as the Government scrambles increase the number of units on the market ahead of a looming election.

A report by GeoDirectory also found there was more than a 17% jump in the number of address points in the later part of the first half of the year, compared to the same period in 2023.