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New home completions down 12% in first quarter of 2024 – CSO

There was a 12.1% fall in the number of new home completions in the first quarter of this year, according to new data from the Central Statistics Office.

The CSO reported a total of 5,841 new dwelling completions between the months of January, February and March of this year; down from 6,647 in the first quarter of last year.

Apartment completions in the first quarter of the year sank by 32.6%; from 2,380 the same time last year to 1,603, while the number of scheme completions eased by 1.4%; from 3,082 to 2,038.

However, the number of single dwellings completed rose by 1.3% to 1,200 from 1,185 last year.

Today’s figures show that 52% of all completions in the first three months of the year were scheme dwellings, while 27.4% were apartments and 20.6% were single dwellings.

They also reveal that six of the eight regions of Ireland saw a fall in completions in the three month period under review.

The region with the biggest relative decrease in completions was Dublin, with completions there falling by 25.3% while the border (Cavan, Donegal, Leitrim, Monaghan, and Sligo) region saw the second largest decrease of 11.2%.

Completions, however, rose by 17.7% in the midlands (Laois, Longford, Offaly, Westmeath) and by 68% in the southeast (Carlow, Kilkenny, Waterford, Wexford) (6.8%) over the same period.

The CSO noted that more 77.5% of apartment completions this quarter were in Dublin.

In Dublin city, 93.5% of completions in this quarter were apartments.

The most scheme completions were in the mideast (Kildare, Louth, Meath and Wicklow) while the west (Galway City and County, Mayo, and Roscommon) had the most single completions in the first quarter.

Meanwhile, the most completions by Local Electoral Area (LEA) were in Lucan in Dublin, with the top 10 LEAs all being in or close to Dublin, the CSO added.

Article Source – New home completions down 12% in first quarter of 2024 – CSO – RTE

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