Building boom is set to continue

May 1998

House completions in Wicklow in 1998 look set to outpace last year’s figure, according to the Department of the Environment’s Housing Statistics Bulletin.

In the first quarter of the year, 346 houses were completed in the county, all bar four of which were private.

Last year, a total of 1,147 houses were built in Wicklow, which, when contrasted with the 511 completions in 1993, shows the dramatic surge in housebuilding – and population – which the county is experiencing.

To date this year, nationally, the number of house completions is up by six per cent on the corresponding figures for last year.

The numbers opting for variable rate mortgages have increased this year, compared to last year, although fixed rate mortgages remain more popular, with 64 per cent of applicants opting for the fixed packages.

The Bulletin also reveals that new house prices have increased nationally by six per cent and by 6.3 per cent in the Dublin area since the final quarter of last year. Second-hand house prices went up by two per cent nationally and 1.3 per cent in the Dublin area.

Compared with the March quarter of 1997, new house prices have increased by 24.6 per cent nationally and 33.8 per cent in the Dublin area, while second hand house prices were up by 27.3 per cent nationally and 32.8 per cent in the Dublin area.