Construction BUSINESS

Ireland marked a significant achievement in its housing sector with the completion of 32,695 new homes in 2023, marking the highest annual delivery in the last fifteen years. The robust performance surpassed the Housing for All’s 2023 target by almost 13% and exceeded the previous year’s numbers by 10%. This announcement came during the latest quarterly update under Housing for All, with Taoiseach Leo Varadkar, Tánaiste Micheál Martin, Minister Eamon Ryan, and Minister Darragh O’Brien showcasing the government’s commitment to addressing the nation’s housing challenges.

The government’s comprehensive approach has not only met but surpassed the Housing for All targets in the two full years since the plan’s launch. A strong pipeline is evident, with construction initiated on 32,800 new homes in 2023, reflecting a remarkable 22% increase from the previous year. Furthermore, permission has been granted for over 37,600 homes, illustrating the government’s commitment to a sustained increase in housing supply.

Initiatives like the First Home Scheme and Help to Buy have played a crucial role in making homes more affordable, with over 30,500 First-Time Buyers approved for mortgages in the 12 months leading up to November 2023. The impact is also visible in the revitalization of vacant and derelict homes, with over 3,000 Vacant Property Refurbishment Grant applications approved last year.

December 2023 witnessed the commencement of construction on over 2,000 new homes on State Land sites, including social and affordable homes at the former Devoy Barracks in Naas, apartments at O’Devaney Gardens, and new homes at Oscar Traynor Road. The Land Development Agency’s Project Tosaigh initiative has opened applications for over 600 new Cost Rental apartments across Dublin and Kildare, providing homes at least 25% lower than market rates.

Commenting on the milestone, Taoiseach Leo Varadkar emphasized the government’s commitment to a secure home for everyone, showcasing a six-fold increase from 5,000 new homes per year in 2012 to over 32,000 in 2023. Tánaiste Micheál Martin echoed the sentiment, highlighting the momentum and progress in the right direction for Ireland’s housing sector. Minister Eamon Ryan noted the positive impact of initiatives to bring more homes back into productive use, emphasizing the success of the Croí Conaithe (Cities) scheme.

As the government revises the National Planning Framework in 2024, including updated housing targets, the focus remains on fundamental reforms, increased capacity, and promoting innovation in the housing sector. The collective efforts aim to ensure the provision of the right types of homes in the right places, ushering in a transformative change in housing delivery for a sustainable future.