The construction and housing boom in the Irish economy is continuing unabated, according to the latest figures, which show that the number of new houses being built in 2006 is up to 15 per cent above last year's record level.
It was expected that the 81,000 houses built in the State last year would not be exceeded this year.
However, figures for the first three months of this year show that nearly 22,000 houses and apartments were completed. This compares with just under 17,000 for the same period in 2004, and is nearly double the 11,900 completions in the first quarter of 2002. Because of a problem in collecting statistics at the beginning of last year, there are no comparable figures for the first quarter of 2005.
However, the number of new house guarantee registrations, for large developments getting under way, have risen 15 per cent nationally and 13.6 per cent in Dublin in the first quarter of this year.
In the first three months of 2006, there were 18,440 guarantees registered, compared with 16,037 in the same period last year. This marks one of the largest percentage increases in recent years.
The figures are due to be released today by the Minister of State with responsibility for housing, Noel Ahern. The continuing construction boom in the housing sector has surprised some commentators, who had expected house construction to plateau last year. The rate of construction is unprecedented for any western economy, and is one of the highest rates per head of population of any country in the world. Despite the high level of house completions, house prices have continued to rise at a rate that has caused concern.