The figures, detailed in the BPFI’s Housing Market Monitor for Q4 of 2022, showed that nearly 30,000 new homes were completed last year, an increase of 45% on 2021.
Over a third of completions last year were in Dublin, the majority of which were apartments.
31% of completions in 2022 were apartments, the highest proportion since the data series began.
There were 2,108 commencements of new housing units in January 2023, the highest number for the month of January since 2008.
Discussing the key findings of the report, Brian Hayes, Chief Executive, BPFI said: “Housing supply recovered significantly in 2022 with close to 30,000 house completions during the year, an increase of 45% from 2021 and 41% from 2019, prior to the pandemic.
“Looking ahead, we anticipate a steady supply of housing over the course of the year with commencement figures from last year indicating that we can expect to see nearly 27,000 housing units delivered this year, which is similar to 2019 levels before Covid.
“Commencements figures for January 2023 are also encouraging, with 2,108 housing units started during the month, the highest level observed in any January period since 2008.”