New home construction starts may fall "well short" of targets

Increased costs is impacting the viability of apartments

In the three months to October, apartment commencements fell by 29%, with housing scheme commencements down 23%.

Housing construction starts in Ireland continue to fall further behind government targets with a drop in the number of new apartments and houses.

According to Goodbody's Housing Chartbook monitor, a total of 1,841 units commenced construction last month, down 31% year on year. It means the annual total for housing commencements to October is 26,608 down from a peak of approximately 35,000 earlier this year.