Completions of new homes up 6.3% but likely to fall short of annual targets [Video]

The number of new dwellings completed in the third quarter has increased 6.3% year-on-year, according to the Central Statistics Office (CSO).

There were 8,939 new homes built in Q3, an increase of 530 from the same period last year. On a seasonally adjusted basis, completions rose 25% from Q2.

The number of scheme dwelling completions rose 23.2% or 845 to 4,489, but single dwelling completions declined 5.3% or 76 to 1,354 from Q3 2023.

Apartment completions also declined by 7.2% or 240 from 12 months ago to 3,096. Half (50.2%) of completions in Q3 were scheme dwellings, 34.6% were apartments, and 15.1% were single dwellings.

In five of eight regions, completions increased year-on-year, and most pronouncedly in the south-east (+53.7%), but there were also significant increases in the mid-west (+45.8%), the south-west (+33.5%), the midlands (+17.4%) and Dublin (+4.8%).

There were decreases in the border (-7.5%), west (-14.7%) and mid-east (-20.7%) regions.

The capital …