Boost for next housing minister as figures show 18.5pc rise in new dwellings at end of 2019

(stock photo)

Charlie Weston

THE next Government is set to benefit from a pick-up in house and apartment completions.

New figures show there were 6,450 new dwellings completed in the last three months of last year, a rise of 18.5pc on the same period a year previously.

This takes the total number of new dwelling completions last year to 21,241.

This is up from 17,952 built in 2018, a rise of up 18.3pc.

Apartment construction saw the highest rise, according to the Central Statistics Office data.

Some 1,250 apartments were built in the final three months of last year, up from 726 in the same quarter in 2018.

For all of last year, the number of apartments completed rose from 2,283 in 2018 to 3,644, an increase of almost 60pc.

The surge in housing construction means the next minister for housing will benefit from a tail wind.

It also comes at a time when property price inflation in stabilising, while private rents have shown some evidence of flattening out.

Dublin property prices have been falling.

Rents rose in Dublin, Cork and Galway cities between September and December. But outside the major cities rents fell.

Nationally, there was a marginal fall in the last three months of last year.

This was the first time since the middle of 2012 that rents nationally have not risen in a quarter when compared with the previous quarter.

The CSO house completions show that the majority of dwellings completed were in housing schemes.

Almost 60pc of completions were in schemes, while 21.5pc were single dwellings. The CSO said 19.4pc were apartments.

For the year 2019, 59pc of completions were for housing schemes, 24pc were single dwellings and 17.1pc were apartments.

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