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News : Irish Last Updated: Dec 19th, 2007 - 13:17:15


New house units built in Ireland in 2006 surged 15% to record 93,419 - double output in 1999
By Finfacts Team
Jan 19, 2007, 15:33

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The Department of the Environment reported today that a record number of new homes were built last year.

93,419 houses and apartments were completed, up more than 15% on 2005. The 2006 level is twice that of 1999 and the 13th consecutive annual increase, according to Minister of State for housing Noel Ahern.

The Government collects an average of €100,000 in taxes and levies from the average cost of each new housing unit. VAT is charged at a rate of 13.5%

"That is a phenomenal level and demonstrates the capacity of Government policy to respond to the strong demand for housing," Ahern said. A total of 19,470 units were built in Co Dublin and almost 30,000 in the Greater Dublin Area.

Just under 30,000 homes were completed in the greater Dublin area, an increase of 8%. Houses accounted for 79% of completions nationally, but just 56% in the greater Dublin area and 41% in Dublin.

New house registrations rose 7% to 66,649, indicating that house building activity will remain strong.

A breakdown showed that the biggest increases in house building last year were in Sligo and Leitrim, where completions jumped by 85% and 80% respectively. House building levels in Cork city were down 37%, however, while Limerick city showed a drop of nearly 60%.

RELATED:

Signal of significant slowdown in Irish residential property market


© Copyright 2007 by Finfacts.com

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