Available from the Land Development Agency
LDA has acquired a site capable of delivering 3,000 new homes.
Ireland is on track to deliver almost 40,000 new homes this year, while the Land Development Agency has expanded its pipeline with the acquisition of land to accommodate another 3,000 homes in Dublin.
Housing completions increased by 10% year-on-year in the third quarter, with the number delivered over the past 12 months reaching 38,792, according to figures from the Central Statistics Office.
This represents a high post-financial crisis and makes Ireland likely to exceed 36,000 homes completed by 2025, with annual deliveries expected to come in below 40,000.
Supply growth has been extensive. It was up 15% in Dublin and 20% outside the capital in the 12 months to the end of Q3. Apartment completions increased by 20% year-on-year, while scheme houses increased by 19%. Dublin still accounts for around 75% of total deliveries, although apartment completions have doubled in the south-west, driven by activity from developers Cairn and Glenveagh on prime sites in Cork City.
“Achieving the annual 40,000 would be an important milestone, but achieving and maintaining 50,000-plus will require additional effort,” Goodbody Chief Economist Dermot O’Leary said in a statement.
He highlighted the need for continued fiscal support for social housing and home ownership, faster rezoning, better coordination of utility provision and further planning reforms to reduce legal uncertainty.
Meanwhile, LDA has acquired around 266 acres located in two local authority areas, with 212 acres in Kilmartin in Dublin 15 in Fingal and 56 acres in Calliaghwee in County Meath.
Preliminary studies indicate the capacity for approximately 3,000 homes on the tracts along with commercial space and community facilities. With this transaction, the agency can now deliver more than 16,000 homes in the Dublin area from privately owned sites.
“This is a significant strategic acquisition for LDA and creates an opportunity to be a positive catalyst for housing delivery in a rapidly growing area of Dublin,” LDA Development Director Phelim O’Neill said in a statement.
“The scale and location of the land means a co-ordinated and collaborative approach needs to be taken to ensure we deliver not just homes but thriving and well-served communities.”
The agency’s further delivery pipeline exceeds 28,000 homes through direct development and partnerships with housebuilders. It is active on 29 sites, with almost 8,000 homes under construction.
The development comes as LDA prepares for a leadership change, with founding CEO John Coleman stepping down after eight years as CEO of airport operator DAA.
LDA chairman Cormac O’Rourke said Coleman had transformed the organization from scratch to one of Ireland’s foremost housing delivery bodies. The agency will begin the process of selecting a permanent successor next week, he said.