Irish Housing Completions Hit 7,856 in Q1, Highest Since 2011; Supply Remains Limited

Irish housing output is expected to improve over the next two years, with 7,856 new home completions in the first quarter, the highest since Q1 2011, according to Sherry FitzGerald. Despite persistent market challenges, the group is optimistic, projecting 2025 housing completions to be in line with or exceed 2025 levels.

Housing supply in Ireland remains severely limited. In January, only 0.7 per cent of private housing stock (14,629 properties) was available for sale. This is an increase of 4,250 units from January 2025's record low but is still significantly below the number needed for a stable market. Advertised stock at the start of the year was 28 per cent lower than January 2020, when 20,332 second-hand properties (1.1 per cent of stock) were available.

Dublin saw 3,952 second-hand properties advertised in January, 0.7 per cent of its private housing stock, up from 0.5 per cent a year prior. While stock increased nationwide compared to 2025, acute shortages persist, especially outside main urban centers. Monaghan and Carlow recorded particularly low stock levels at 0.3 per cent and 0.5 per cent respectively. Most regions experienced sharp declines in available homes compared to January 2020, with the midwest (43 per cent), west (42 per cent), southeast (39.2 per cent), and Border (39 per cent) seeing the largest reductions. Dublin was the only region to record an increase, up 7.1 per cent.

Second-hand house prices rose 5.8 per cent annually in Q1 2026, down from 7.5 per cent in Q1 2025. Dublin's price inflation moderated to 4 per cent annually in Q1, from 7.6 per cent a year earlier. Regional Ireland saw stronger price growth at 8 per cent annually. Prices are expected to continue rising at a robust, though more moderate, pace than in 2025.

Estimated demand is 56,200 units per annum, but obstacles like planning, building costs, and limited serviced land hinder this. From 2021-2025, an average of 37,154 units annually received planning permission, below demand. Positively, permissions increased 7.9 per cent last year to 34,974. A significant increase in commencement activity in 2024, due to development waivers, contributed to a 20 per cent rise in new homes delivered in 2025 and is expected to impact 2026 delivery.