New housing supply declines QoQ in Q4 2022

Dublin House Commencements & Completions

New residential commencements and completions in Dublin declined for a second consecutive quarter in Q4 2022 yet remained up YoY. Fewer than 2,500 new units were started in the quarter, representing a decline of 8.2% QoQ. Completions fell at a more significant rate of 16.1% QoQ to stand at 2,340 (SA). This was the lowest quarterly volume in 2022. Fewer new units were commenced in Dublin in 2022 (9,647) than in 2021 (10,936), and this is concerning given the affordability issues and severe shortages of accommodation available for those living in or moving to the Capital.