Real Estate Planning & Development Statistics

Q3 Industry Review

The construction industry has stabilised in the last quarter. Overall, Q3 has witnessed increasing signs of market activity across the industry as the country and economy emerges from COVID-19 restrictions.

This emergence has resulted in increased building activity across the residential and commercial sectors as developers seek to catch up on building timelines to reach newly agreed practical completion dates. However, this surge in construction output has resulted in labour shortages and increased costs on building materials related to Brexit and supply issues throughout the continent.

In this report, Deloitte Real Estate Advisory examine the effects on the Irish planning system, the impact on the residential and commercial real estate markets in Ireland along with some key market statistics from Quarter 3, 2021. We also look at the announcement of the revised National Development Plan and Climate Action Plan 2021, as well as the roll out of a forward purchase initiative from the Land Development Agency.

Some key highlights include:

  • The number of planning applications submitted during the period Q3 2021 is down twenty-nine schemes relative to Q2 2021 but in terms of overall units this is up 16%.
  • The current Strategic Housing Development (SHD) process is due to finish during 2022 and will overlap with the new Large Scale Residential Development (LSRD) Bill which is due to come into effect on 17 December 2021.
  • The rising cost of construction is a great uncertainty in the market. The latest SCSI tender index has shown that costs rose by 7% nationally in the first half of 2021.
  • 71% of large-scale office development planning grants in Q3 2021 were in Dublin, with 14% in the rest of Leinster and a further 14% in the rest of Ireland.
  • A total of 2,427 apartment units and 4,104 housing units were subject to commencement notices in Q3 2021 and are set to be delivered across Ireland.

To understand full detail and analysis, download the full report here.

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