Housing starts surge 67% in first quarter to 12,297 units

• Published date: 11 April 2024
• Author: EOIN BURKE-KENNEDY
• Publication title: Irish Times (Dublin, Ireland)

Housing starts, the strongest indicator of future supply, surged to a new post-crash high in the first quarter of 2024, according to Goodbody Stockbrokers

In its latest housing commencement tracker, the brokerage said new home starts jumped by 67 per cent to 12,297 units in the first three months of the year, taking the total over the past 12 months to almost 38,000.

“This is ahead of our expectations and current Government targets,” the company said. The Government’s Housing for All strategy targets 34,600 completions this year, 36,100 in 2025 and 36,900 in 2026.

“The surge in Q1 is likely to be related to the proposed ending of a temporary waiver on development contributions that was introduced by the Government for a 12-month period and is due to end on April 24th,” Goodbody said.

Incentivised supply

“This particular measure has clearly had a positive impact in reducing the cost of development and has incentivised supply. This may have resulted in builders bringing forward their construction plans,” it said.

The...