Tuesday, April 29 11:12:01
There was a dramatic 192pc rise in the commencement of new home building across the country in the first two months of 2014, when compared with the same period in 2013.
The figures are contained in the National Housing Construction Index, compiled and issued by consultancy Link2Plans.
The data is aggregated by Link2Plans from real time planning and project information in every local authority area.
According to Danny O'Shea Managing Director of Link2Plans, "A definite upward trend began to emerge in the last four months of 2013 and Link2Plans were the first to categorically state that the first quarter of 2014 would see a significant increase in residential construction activity. What we have seen in January and February of this year with project commencements, has been nothing short of staggering."
"Three key factors have all aligned to create this huge increase. The first being a pent up demand in the sector, the second being increased confidence to start new residential projects, and thirdly the rush to lodge commencement notices before the 1st March deadline for the introduction of the new building regulations. What was regarded as purely a regulatory change appears to have had a seismic impact on residential construction activity, greater than any increase arising from changes in last October's budget," said Danny O'Shea from Link2Plans.
According to Managing Director of Link2Plans, Danny O'Shea "Construction related statistics tend to be up to 6 months out of date which limits their usefulness to those actual working and providing services in the sector. The National Housing Construction Index from Link2Plans is able to quickly identify patterns and indications of activity in every county in Ireland."
"There is further good news along with the increase in project commencements, with applications up by 21pc nationally with only 10 counties showing a decrease over last year" said Danny O'Shea.
Overall the 21pc rise across the country in planning applications indicates the largest fall in planning applications took place in Sligo (-48pc), Leitrim (-47pc), Louth (-32pc), Roscommon (-18pc) and Donegal (-15pc). There were also some very large increases in planning applications with Offaly (+129pc), Wicklow (+59pc), Dublin (+57pc), Waterford (+47pc), Tipperary (+45pc), Galway (+36pc) and Limerick (+35pc).