House completions rise 20%
The number of house completions for the first 10 months of 2006 has risen 20.6%.
In 2005, almost 81,000 new homes were completed nationally according to figures released by Noel Ahern, Minister for Housing and Urban Renewal.
The Irish Home Builders’ Association (IHBA) has welcomed the increase.
Mr Hubert Fitzpatrick, Director of the IHBA said: "These figures show the strength of the home building sector and we expect to see the end figures for 2006 once again break all previous records for housing output.
"Nationally in 1995 a total of 30,575 homes were completed. By 2005 this number had increased to 80,957."
With the release of the preliminary Census figures, which have shown an increasing population, the indications are that there will continue to be a demand for additional housing.
Austin Hughes, Chief Economist, IIB Bank who said that, according to his study: "If house building had not risen in recent years and, instead, remained at its 2001/2002 levels, I reckon Irish house prices could be as much as 20% higher than they are at present. This would imply the average house might now be as much as €60,000 more expensive than it is today."
