Recent data reveals that there are still approximately 50,000 apartments with planning permission that have yet to commence construction.
According to the latest statistics from the Dublin Housing Supply task force, there were 17,483 properties under construction in Dublin during the first quarter of 2023. This represents a slight decrease compared to the same period in 2022, which saw 18,003 properties under construction.
Interestingly, despite this decrease, there has been a significant increase in the number of planning permissions granted. Currently, there are over 113,000 homes that have been granted planning permission across the county, compared to just under 95,000 in the first quarter of the previous year, representing a nearly 20% increase.
The task force noted that there has been a steady increase in the number of homes being built in the Dublin region from 2018 to the fourth quarter of 2021, with a more stabilized growth rate thereafter.
Despite the strong planning activity, particularly in Strategic Housing Developments (SHDs) in the Dublin region, construction activity has not yet caught up to the level of planned projects.
Concerns about the cost of building flats have led to predictions of a decrease in the construction of new apartments. However, the figures indicate that apartment building has remained relatively stable, with around 14,800 apartments under construction in the first quarter of this year.
Between 2019 and late 2021, there was a significant rise in apartment building, increasing from 4,000 flats under construction to 15,000.
The task force mentioned that changes in government guidelines for apartment building in 2018, specifically the removal of mandatory height caps, may have influenced the timing of commitments to apartment developments.
Despite these developments, there are still nearly 50,000 apartments for which construction work has not yet started.
To combat the housing crisis, the government has been promoting increased house building in urban areas like Dublin. In 2022, just under 30,000 new homes were completed nationwide.
A spokesperson for the Department of Housing stated, “The government’s Housing for All plan is having a significant impact, resulting in more homes being built and purchased than in the past. Last year saw the highest number of homes delivered since 2008, and the most recent figures confirm this momentum with over 14,000 homes completed in the first half of 2023 – the highest number for the January to June period since 2011. The government remains dedicated to achieving, and if possible, surpassing the targets set out under Housing for All, which aims for 29,000 new homes in 2023.”
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