The level of supply of new houses surged in 2002, according to the housing warranty company HomeBond.
Its latest figures reveal 47,079 new housing starts were registered with the company in the past 12 months, a 63 per cent rise in activity over 2001.
The figures are also 36 per cent higher than the previous record of 34,613 starts registered in 2000.
HomeBond managing director Mr Michael Greene said the recovery after the 2001 downturn is partly due to the return of investors and first-time buyers to the market last year.
The recovery in supply is most notable in the key urban counties - Dublin up 85 per cent, Cork up 90 per cent, Limerick up 83 per cent and Waterford up 70 per cent.
In the broader commuter belt counties of Louth, Westmeath, Wexford, Offaly, Laois and Carlow ,starts increased by a combined 44 per cent in 2002 to 5,362 and many of these new homes will also contribute to meeting housing demand from people employed in the Greater Dublin Area, according to HomeBond.
