More houses being built in Tipperary

Tipperary property

Tipperary has more houses being built this year.

More houses have been built in Tipperary in the first three months of this year when compared with last year.

Over 25% more houses were completed between January and March 2017 when compared with the same months in 2016, according to the Construction Industry Federation (CIF).

93 houses were  completed this year, 74 last year.

CIF estimates that residential completions across the country for 2017 will be in the region of 18,000 units with this figure expected to increase to approximately 20,000 units in 2018.

This compares to 12,666 units in 2015, representing an overall increase of 42% from 2015-2017. 

 

CIF Director General Tom Parlon said: “The ESRI has recently upgraded the desired housing output target from 25,000 per year to 35,000. Commencements last year were around 13,200.  This shows the challenge we as a society are facing in terms of housing.”

In addition, data from the Irish Banking and Payments Federation Ireland shows that in Q1 2017, 6,939 mortgages were drawn down, an increase of 14% on Q1 2016. 

“Currently housebuilding, particularly outside Dublin, is often not viable as many housebuilders cannot gain access to finance at the right terms from banks or other sources. In order to ensure balanced regional development across Ireland and increase the industry’s capacity to deliver housing, it must be viable for construction companies to build,” Mr Parlon said.

Individual/One Off housing units represent just 26.7% of total commencements in the first 3 months of 2017, and increased by +33.7% on the same period in 2016.