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Home completions down 5.4% in second quarter

Official figures show a drop in the number of new homes completed during the second quarter (Q2) of this year.

According to the Central Statistics Office (CSO), 6,884 new dwellings were finished over the three-month period – down 5.4% compared with the same period last year.

For the first half of 2024, completions were down 8.6% compared with the first half of last year.

Apartment figure drops

In the second quarter, apartment completions slumped by 15% compared with a year earlier, to 1,566.

Homes in housing scheme, which accounted for almost 60% of the total, were down only slightly to 3,949, while single dwellings dropped 3% to 1,369.

The CSO noted that four of the eight regions experienced an annual fall in completions, with the biggest drop (19.4%) coming in the mid-east (Kildare, Louth, Meath, and Wicklow). Dublin completions were down by 10.6%.

Downward trend

The CSO also applies an adjustment to the figures to smooth out seasonal variations. This figure shows that home completions dropped by 7.8% compared with the first quarter of this year.

It also indicates that completions have been falling since a peak in the third quarter of last year.

Other recent CSO figures have shown a drop in planning permissions for homes this year.