Record number of new home commencements in first quarter of 2024

18 Apr , 2024  

The Department of Housing, Local Government and Heritage has published its monthly data on the number of Commencement Notices (residential construction starts) for March and for Q1 2024.

The data shows that a record 11,956 homes were commenced in the first three months of 2024, up 63% on the same period of 2023. This is the highest number of annual residential commencements for this period since records began in 2015. In the last 12 months (April 2023 to March 2024) 37,408 units were commenced, up 37% on the prior 12 months.

The data shows that 4,900 new homes were started in March 2024, an increase of 51% on March last year (3,244) and the highest number for March since records began in 2015.

Reflecting on the figures and progress made, Minister for Housing, Local Government and Heritage, Darragh O’Brien TD said: “It is clear now that that supply, which is key to addressing our housing challenge, is increasing at pace and at scale. The data indicates a robust stock of new housing is in the pipeline. It’s clear a number of supports to make home building viable and boost housing supply are working – in particular the development levy waiver and Irish Water rebate which were introduced last year and which have helped to fast track much of this activity. While I am happy with these numbers, I am more pleased with the fact that this activity will deliver life changing opportunities for home ownership to many more of our citizens. The trends are strong but we are not complacent and we will continue to use every tool available to us to build on this momentum.” 

Of the 4,900 units commenced in March 2024, 49% are scheme dwellings, 37% are apartments and 14% are for one-off units.

Of all the homes commenced last month, 32% were in the four Dublin local authorities. These homes will be transformative, in particular for urban centres where a high proportion of the population needs to live and work. This includes Fingal (731 homes) and Cork (984 in total across 534 City and 450 County) representing 20% of all commencements this month.

The full commencement data set can be accessed at: Construction Activity Statistics