In a remarkable turnaround for Ireland’s housing sector, the number of new homes breaking ground has skyrocketed in the first seven months of 2024. The Department of Housing, Local Government and Heritage’s latest figures show a staggering 91% increase in housing commencements compared to the same period last year.
Key Points:
- 35,358 homes commenced construction from January to July 2024
- This is nearly double the 18,546 starts in the same period of 2023
- On average, 240 new homes are breaking ground every working day in 2024
The surge in housing starts is not just a short-term trend. Looking at the past 12 months (August 2023 to July 2024), a total of 49,613 units commenced construction. This represents a significant 72% increase from the previous 12-month period.
July 2024 alone saw 1,574 new homes getting underway, contributing to this positive trend.
These figures suggest a potential easing of Ireland’s housing crisis, with a substantial increase in the pipeline of new homes. However, it remains to be seen how quickly these commencements will translate into completed, livable homes for Irish residents.
For those interested in diving deeper into the data, the Department has made the full commencement dataset available online. This resource provides detailed information on the number of units commenced, notices filed, and one-off dwellings, both at a national level and broken down by local authority, from 2014 to July 2024.
As Ireland continues to grapple with housing affordability and availability issues, this surge in new home starts offers a glimmer of hope for those seeking to get onto the property ladder or find suitable accommodation in the coming years.