Last year followed a similar New Homes pattern to the previous year, with sales volumes continuing to increase and a higher weighting in the first half of the year. Schemes in Cork which commenced in 2017 are nearing completion and are now host to bustling new communities.
The Brexit gloom lifted helping boost the shares of Irish banks and property firms, as well as the owner of Paddy Power, as investors bet the risk of a crash-out Brexit had receded for the time being.
Shares in Glenveagh Properties, one of the largest housebuilders in the State, slid by as much as 7% after it announced its chief executive has quit and said that the gap between supply and demand in the Irish housing market is likely to persist "for some years".
Shares in the big two Irish banks and a handful of property shares played catch-up with the global market slump to post falls, taking stock of the fading hopes of a deal that would avoid Britain crashing out of the EU at the end of October.
Shares in Glenveagh Properties — one of the two stockmarket-listed home builders that have included Cork, Limerick, and Galway in their build plans — rose slightly as the company told its annual shareholders’ meeting it had effectively hit its full-year sales target seven months early.
Irish shares tapped a surprise early new year buying wave that sent the Iseq Overall index climbing 3%, reflecting huge gains for Bank of Ireland and housebuilder Glenveagh at the end of a week marked by global stock market tremors.