Despite a surge in home commencements, the Central Statistics Office (CSO) reports a slight decline in planning permissions for new homes in Ireland.
Key Findings:
- Planning Permissions: In the second quarter of 2024, there was a 2.4% decrease in the number of homes approved for planning permission, totaling 8,513 units. This figure is lower than the 8,723 units approved in the same period of 2023.
- Home Commencements: However, the first nine months of 2024 saw a significant increase in home commencements, reaching 49,007 units, compared to 23,923 in the same period of the previous year.
- Home Completions: While there has been progress, the number of new dwelling completions in the first three quarters of 2024 declined by 3.1% compared to the same period in 2023, reaching 21,634 units.
- Improved Energy Efficiency: Building Energy Ratings (BER) have shown a positive trend, reflecting retrofitting, higher construction standards, and the increasing reliance on renewable energy sources for home heating.
While the decline in planning permissions may raise some concerns, the overall trend in construction activity remains positive. The increase in home commencements suggests that the housing market is still experiencing strong demand, and the focus on energy efficiency is a welcome development.
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