A Chara,
As we mark the second anniversary of the launch of Housing for All, our national housing plan to 2030, I wanted to update you all on the latest statistics in relation to housing supply.
As we are all aware, increasing supply is the key to addressing the challenges we face in housing. Through Housing for All our Government has clearly laid out an ambitious set of targets backed up by comprehensive actions and financed by an unprecedented multi-annual investment programme. Fianna Fáil have long advocated for the supply of all kinds of homes – social, affordable purchase, affordable cost rental and private homes – and we are now delivering across all these tenures.
The latest data shows the positive impact of this is being felt across all supply indicators. The information shows strong trends in the right direction and that we are on course to meet, indeed hopefully exceed, our supply targets for 2023.
Planning Permissions
The latest CSO data for planning permissions for Q1 2023 show a 37% year on year increase in permissions being granted for new residential units. 11,659 units were granted permission in Q1 2023.
Housing Commencements
The latest commencement data up to July 2023 shows a 12% increase in housing commencements this year to date. 18,546 homes have commenced on site since the start of the year. On this trajectory we are on course to have the highest commencement levels since records started.
Housing Completions
The latest CSO completion data for H1 2023 shows a 6% increase in housing completions this year to date. 14,069 units were completed in the first half of this year. This is the highest H1 completion total since records began in 2011.
First Time Buyers
Banking Payment Federation of Ireland Mortgage drawdown figures illustrate the record growth of First Time Buyers. The Residential property price index produced by the CSO also underlines the substantial growth in First Time Buyers. 17,247 First time buyer purchases were recorded by the CSO in the past twelve months to June 2023. That is 10% increase on the previous year.
I am confident that our plan is flexible and agile to respond to the challenges which come our way. The annual review of Housing for All is now underway and I expect that process to be concluded in October. Separately, a review and refresh of housing targets has commenced. The work is underpinned by independent, peer-reviewed research by the ESRI and will inform national and local housing targets, as well as subsets of social, affordable and private housing, and ensure we provide enough of the right type of homes in the right place to meet overall need. Given the progress to date as outlined above it is timely that we expand our ambition and have a firm evidence basis to do it. I expect this work to be concluded by January based on CSO population release time schedules.
Under Housing for All we are making significant progress in ramping up housing supply, supporting first time buyers and building social and affordable homes. We need to continue this progress and do much more. I want to take this opportunity to thank you all for your on-going support.
As I travel around the country it’s heartening to see the work which is underway and when I meet with people on the street in all of your constituencies it further emphasises to me that Fianna Fáil in Government is making a positive difference. We will never become complacent, there is much we need to do and we will continue to do it.
Le gach dea-ghuí,
Darragh O’Brien TD
Minister for Housing, Local Government and Heritage
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