It has been well documented by the ESRI medium term review that “around 10,000 – 12,000 new houses are needed per year up to 2015 and that bewteen 20,000 – 25,000 new houses are needed from 2016 onwards”
According to research carried out by CIS over the past 4 quarters the Residential sector appears to be showing some signs of slow recovery. During this period over 14,500 schemes have been approved which covers Self-Build, domestic extensions and multi-unit developments. The table and graph below represent the volumes of schemes which have received full planning permission granted during this period, the numbers referenced represent volumes of schemes and not units.
|Republic of Ireland||Northern Ireland||Total|
*Volumes of granted schemes by region
Domestic extensions represent 50% of granted residential schemes over past 12 months.
*Granted residential by type
To complement our analysis we have studied the numbers of projects previously placed on-hold and are now approved for extension of duration – our findings show that approx 50% of extension of durations granted year-to-date are within the residential construction sector and 26 multi-unit schemes have progressed beyond this to on-site construction phase. Perhaps this is an early indicator of a revival for the housing sector.