Home building on the rise

Home building on the rise

New figures released by the Construction Industry Federation (CIF) show an increase in new house starts in Dublin, Cork and Galway during the first five months of 2013.

Nationally, the number of new housing unit starts grew by just 0.4 per cent to 1,665 during the period, with some parts of the country, including Limerick and Sligo, experiencing a decline in activity. However, new Dublin starts rose 25 per cent to 361 units, Galway starts rose 38 per cent to 184 and house-building in Cork increased 13 per cent to 200 units.

“In most urban centres the supply is falling and this is creating a strong demand for new housing stock,” said CIF director of housing Hubert Fitzpatrick.

The number of house completions fell in several parts of the country, including Dublin, he added.

“Future supply continues to be constrained by the shortage of development finance and the high costs of construction. Availability of mortgage finance will also play a major role in determining how the market proceeds from this point.”

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