Confidence And Supply

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Minister for Housing Eoghan Murphy

Summary of new report on ‘new dwelling completions’ from the Central Statistics Office; tweet from Taoiseach Leo Varadkar

This morning.

New figures from the Central Statistics Office state there were 4,275 “new dwelling completions” in the first quarter of this year.

According to the CSO the figure “is based on the number of domestic dwellings connected by the ESB Network to the electricity supply and may not accord precisely with Local Authority or Eircode Routing Key boundaries”.

Over the same period last year, there were 3,470 such completions.

Meanwhile…

And…

Daft.ie’s report from earlier this week on the first quarter of this year and the rental market stated:

“…the level of supply needed for rents to not change is about 13,000 per quarter, or 1,000 per week. Currently, the Dublin market is getting half that – about 500 per week.

“To close that gap, Dublin needs to build tens of thousands more rental homes. How many depends on how frequently these change tenants.

“Suppose the average tenancy last three years, which is somewhat shorter than is currently the case (and thus lowering the total number of homes needed).

“In that case, Dublin would need build an extra 500 rental homes to come on the market each week for those full three years, to close the gap between the 500 that are coming on and the 500 that are needed.

“That’s almost 80,000 rental homes that Dublin needs to build, as soon as possible.”

Read the CSO report in full here

One thought on “Confidence And Supply

  1. Joe

    they’ll drip feed new properties to the rental market, wouldn’t want to impact rent now would they. never out supply the demand.

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