House completions for the first nine months of 2003 are up 18.3 per cent on last year, according to figures released by Minister for Housing and Urban Renewal, Mr. Noel Ahern.
Over the course of the past 12 months 47,758 units were built with final figures for completions in 2003 due early in the new year.
"Based on the returns for the first nine months, 2003 is set to be the ninth successive year of record house completions", Mr Ahern said.
For the first 9 months of this year, completions were up 16.2 per cent in Dublin (to 10,500 units) and up 11.1 per cent in the Greater Dublin Area (to 16,441 units) on the same period last year. House Guarantee Registrations are also up by 5.6 per cent (41,184 units) in the first nine months of this year.
Local authorities built 3,276 new houses in the first nine months of 2003 - an increase of 34.7 per cent on the figure for end September 2002, with an additional 1,113 units being provided by the voluntary and co-operative housing sector, up 18.5 per cent on the same period last year.
The Minister acknowledged that while there has been phenomenal growth in house completions for the last eight years, and some easing of house prices, the Government remain concerned at the level of house price inflation. Housing remains a key priority for the Government.
Between June and September 2003 quarters, nationally, new house prices increased by 1.3 per cent but second-hand prices decreased by 0.4 per cent.
Similar comparisons for Dublin show that new house prices increased by per cent in this period while second-hand prices fell by 4.5 per cent.
For September 2003 quarter, new house prices increased by 13.1 per cent nationally and 10.7 per cent in Dublin when compared to the same quarter last year.
Similar comparisons for second-hand houses show increases of 16.1 per cent nationally and 16.6 per cent in Dublin.
The average price of a new dwelling unit in the September quarter was €225,356 nationally and €295,158 in Dublin, and €266,444 nationally and €350,603 in Dublin for second-hand units.