New Home Completions Surge 13% Amid Rising Property Prices

The number of new home completions in Ireland has risen by 13% in the first nine months of 2025, reaching 24,325 units compared to 21,634 during the same period in 2024. This increase comes as the property market experiences upward pressure, with residential property prices climbing by nearly 8% over the past year.

Despite the surge in completions, the latest data from the Central Statistics Office (CSO) reveals a decline in planning permissions granted. In the second quarter of 2025, approved permissions dropped to 7,447 units, down from 8,513 in Q2 of 2024. This trend highlights potential future challenges in maintaining the upward momentum in new home construction.

Regional Insights and Housing Trends

In terms of new housing projects, 10,193 new homes commenced construction in the first nine months of 2025. Leading the way was Dublin City, with 1,808 units commenced, followed by Cork County with 956 units. These figures are part of the data compiled by the newly established Housing Hub, which aims to serve as a comprehensive source for housing information, utilizing the latest statistics from the CSO and other public bodies.

The Residential Property Price Index (RPPI) indicates a significant increase in housing costs, rising by 7.6% from September 2024 to September 2025. Property prices in Dublin increased by 5.3%, while regions outside the capital, notably the Midlands, experienced a remarkable 13.3% rise in prices.

Construction Costs and Economic Impact

While some construction material costs have decreased—such as glass and electrical fittings—others have risen sharply. For instance, the price of copper pipes and fittings increased by 6.5%, while hardwood costs rose by 4.6%. Labour expenses in the construction sector have also escalated, with average hourly earnings climbing from €30.85 in Q2 2024 to €34.22 in Q2 2025.

Furthermore, data from the CSO indicates that 95% of households in Ireland now have internet access. Remarkably, 99% of dwellings constructed since 2022 hold a Building Energy Rating (BER) of A, reflecting a strong commitment to energy efficiency in new housing developments.

Demographically, nearly a third of all homebuyers in 2024 were aged 35 or under, while around 11% of buyers were aged 60 and over. This shift suggests a changing landscape in the property market, influenced by factors such as affordability and lifestyle preferences.

The insights from the CSO provide a detailed overview of the current state of the housing market in Ireland, highlighting both opportunities and challenges as the country navigates its construction and economic landscape.