Housing completions bounce back to 16-year high
This morning’s CSO data show that there were 9,214 residential completions in Q2 2025, up 35% on the year. This brings completions to 32,717 over the past 12-months, the highest level since2009. The disappointing 30,200 out-turn in 2024 was primarily due to volatile, lumpy apartment completions figures, which bounced back in Q2. The bigger picture is that despite viability concerns there are still 16,260 apartments under construction in Dublin at end-2024, close to a two-and-a-half year pipeline. In contrast, housing completions have shown a steady gradual upward trend, continuing into 2025, 22,300 built over the past 12-months.
Meanwhile, our latest analysis of MyHome data show the median residential transaction in July was settled 8.6% above the original asking price, a fresh high. Close to one-in-five (18%) of transactions was settled 20% or more above asking. This points to more momentum in pricing than we had thought. So the risk to our forecast for 5% house price inflation in 2025 lies to the upside. We also estimate transaction volumes in H1 2025 were up 2% on the year, a partial recovery following the 3.4% decline to 61,000 homes purchased in 2024.
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