Figures Show Highest Annual Housing Supply In Over A Decade
The Minister for Housing, Local Government and Heritage, Darragh O’Brien, has welcomed the annual housing supply figures for 2022, published by the CSO, which showed 29,851 new dwellings were completed in 2022. This represents a 45.2% increase on 2021, when 20,560 new dwellings were completed. It the highest annual total since the CSO data series began in 2011. Housing for All, the government’s housing plan, had a target of 24,600 new homes in 2022.
Q4 2022 saw 9,148 new dwellings completed, the highest number of completions of any quarter since the data series began to be recorded by the CSO.
Commenting on the positive figures published by the CSO, Minister O’Brien said, “these figures show supply is increasing and that we are going in the right direction. The government has met and exceeded its overall housing target for the first year of Housing for All and it is encouraging to see the highest level of housing delivery in over a decade despite unforeseen challenges like high construction cost inflation due to the Russian invasion of Ukraine. Increasing supply is central to ensuring people can access affordable housing and that our housing market functions more effectively.”
“Whilst today’s news is positive, the government recognises that we need to continue ramping up supply and to meet even higher targets. That is why government colleagues and I remain focused on delivering Housing for All, which contains the right mix of ambition, guaranteed funding, reform, new initiatives and stability of policy to support the delivery of private, social and affordable housing. We will continue to implement the plan whilst remaining open to introducing new measures where needed to address new and emerging challenges.”
Housing for All contained a projected housing output of 24,600 homes in 2022. The 2023 projected output is 29,000 to be completed by the end of the year.