Residential construction projects worth €1.47 billion were begun in the first nine months of the year, according to a new study.

Dublin accounts for more than 40 per cent of all projects and over half of the value of work, the report from Link2Plans says. The private company monitors the progress of applications through the planning process. Its survey covers multi-unit projects only, with one-off homes, self-build projects and housing extensions excluded.

Work has started on 264 projects this year, which will provide 6,388 homes. Dublin accounts for 108 of the 264 projects, the value of those projects accounting for 57 per cent of the €1.47 billion. This is because the average number of units in Dublin schemes is higher than in projects elsewhere.

The valuation of the work is an estimation based on the annual construction cost guide published by the Society of Chartered Surveyors of Ireland.