Housing construction index finds 2014 ‘year of two halves’

Rate of growth in new home sales slowed sharply in second half

The number of new homes on which building work began in 2014 rose by 1,498 to 6,524  in 2013

The number of new homes on which building work began in 2014 rose by 1,498 to 6,524 in 2013

 

Pent-up demand and increased confidence combined to boost the number of new houses built in 2014, although the rate of growth slowed sharply in the second half, figures released today show.

The number of new homes on which building work began in the Republic in 2014 rose by 1,498 to 6,524 from 5,026 in 2013, according to the National Housing Construction Index. The information is compiled by consultants Link2Plans from planning and project information gathered from every local authority area in the Republic.

According to Danny O’Shea, managing director of Link2Plans, in 2014 “a combination of a pent-up demand and an increased confidence” continued the recovery in house-building that began in the middle of 2013.

However, he warned that while confidence in the sector remained strong, the index indicated 2015 may be a more turbulent year.

“Even though 2014 has seen growth across the sector it is best described as a year of two halves, the first showing huge promise and the second slowing down to a trickle.”