The value of On-Site Residential projects in 2016 is up 34% on 2015. Dublin had over €1 billion worth of projects in the Residential Sector which went On-Site in the year, an increase of over 40% on 2015 (Fig.10). Leinster has seen a slight decrease of 4% in residential project values in 2016 compared to the previous year.
Over 13,200 units have moved On-Site in 2016 in multi-unit developments, an increase of 32% on 2015. (*a number of these units will be build on a phased basis) In 2016, 6,800 units have started in Dublin alone with a further 3,400 in Leinster (Fig. 11).
Munster has shown the largest percentage increase with a doubling of the number of units started. Connacht and Ulster regions grew strongly in the period, albeit from a very low base.
(Note: a further 3,300 one-off housing units began construction in 2016, bringing the total number of houses under construction last year to over 16,500, compared with 2015)
Future Pipeline of Residential Sector Projects
Over 16,000 units (excluding one-off housing units) in the Residential Sector have been granted planning in 2016, which is a 48% increase on 2015 figures (Fig. 12).
As expected, Leinster and Dublin are the strongest performing regions, both in terms of market share and growth rate. Over 5,000 units have been granted planning in the Leinster region as price inflation moves from Dublin to surrounding counties.
CIS estimates the value of these projects to be just under €2.3 billion, an increase of 58% over 2015, with all regions growing significantly apart from Ulster (ROI). Dublin has over €1.2 billion worth of projects which have been granted planning permission in this period (Fig. 13). There has also been an increase in the value of projects in both Munster and Connacht in this period, with over €63 million in projects granted planning in Connacht alone.
The value of Residential projects submitted for planning in 2016 has increased by 17% over the previous year (Fig.14).