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Economy - Housing

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number of dwellings completed
197013887
197115380
197221572
197324660
197426256
197526892
197624000
197724548
197825444
197926544
198027785
198128917
198226798
198326138
198424944
198523948
198622680
198718450
198815654
198918068
199019539
199119652
199222464
199321391
199426863
199530575
199633725
199738842
199842349
199946512
200049812
200152602
200257695
200368819
200476954
200585957
200688419
200778027
200851724
200926420
201014602
201110480
20128488
20138301

 

  • There were 13,887 dwellings completed in 1970.  This figure gradually rose to peak at almost 90,000 in 2006.
  • However the number of dwelling unit completions collapsed over the next seven years to just 8,300 in 2013, below the levels of the early 1970's.
2.20 Ireland: Housing loans1, 2004-2013
       
YearNew HousesOther housesTotal NumberTotal value (€m)Average value of mortgage (€000)Representative mortgage interest rate (%)2
200444,23154,47898,70916,933171.53.48
200553,75853,922107,68021,536200.03.49
200655,73755,516111,25325,495229.24.20
200746,58837,69884,28622,457266.45.25
200824,46729,22453,69114,508270.25.51
20099,83215,34025,1725,831231.63.46
20106,92311,45918,3823,799206.73.66
20113,0338,20411,2372,105187.34.18
20123,22911,08014,3092,484173.64.24
20132,52211,09313,6152,368174.04.36
Source: Department of the Environment, Community and Local Government
1 These data contain an unquantified element of refinancing of existing mortgages.
2 See Appendix 1 for more details.

 

  • The average value of a housing loan in Ireland increased strongly from €171,500 in 2004 to €270,200 in 2008 before falling sharply over the following five years to €174,000 in 2013.
  • The mortgage interest rate rose from 3.48% in 2004 to 5.51% by 2008.  The rate then dropped sharply to 3.46% in 2009 and has gradually increased each year since then to stand at 4.36% in 2013.

 

average value of mortgage
2004171500
2005200000
2006229200
2007266400
2008270200
2009231600
2010206700
2011187300
2012173600
2013174000
Representative mortgage interest rate
20043.48
20053.49
20064.2
20075.2475
20085.5125
20093.46
20103.6625
20114.1775
20124.2375
20134.36

 

 

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