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Commencements

Description

All dwellings constructed in Ireland are required to submit a Commencement Notice (CN). The chart below uses this data to show the number of residential units commenced annually, and is presented as the number nationally, the number in the Dublin local authorities, and the number in the Greater Dublin Area.  Additionally, the number of residential units commenced in each Local Authority area, and the monthly number of commencement noticed is also demonstrated below.

Importance

Commencement Notices are early indicators of activity in the housing market. In a normally functioning housing market (i.e. outside of periods of substantial negative price shocks) one would expect that the ratio of commencements to completions would average close to 100% making a suitable allowance for the lag between the two phases.