The housing output for the first quarter of this year is up 8.2 per cent on the same quarter last year, totalling 11,978 units, according to the Housing Statistics Bulletin.
The bulletin also shows that two out of every three new homes are being bought by investors, not owner occupiers.
According to the bulletin, the change in buying patterns follows the return of investors into the housing market after last December's Budget measures.
Average new house prices increased by 4.8 per cent nationally and by 1.8 per cent in the Dublin area compared with the last quarter of 2001.
Second-hand house prices rose by 5.8 per cent nationally and by 4.8 per cent in the Dublin area.
However, the figures show that over the last decade, house prices have gone up three times faster than the average wage and five times faster than inflation.
Returns for the first quarter also show that 318 units of accommodation were provided by the voluntary housing sector, which is up 47 per cent on the same period last year and the number of units in progress at 2,011, was up 16 per cent on the same period in 2001.
They also indicate that the record level of output (1,253 units) in the sector achieved last year will be exceeded and that the target of 1,500 units set for the sector under the National Development Plan will be achieved in 2002.