In Q3 2011, there were 2,512 planning permissions granted for dwelling units, compared with 4,641 units for the same period in 2010, a yoy decrease of 45.9 %.
However, overall, Q3 2011 number of new dwellings approved stood at 1,271, up 0.55% qoq and down 22% yoy. Relative to peak in Q2 2004, the number of new dwelling units approved declined 83.2% in Q3 2011.
Per CSO:
- Planning Permissions were granted for 1,887 houses in the third quarter of 2011 and 2,817 in the third quarter of 2010, a decrease of 33.0%.
- Planning permissions were granted for 625 apartment units, compared with 1,824 units for the same period in 2010, a decrease of 65.7%.
- Total floor area planned was 969 thousand square metres in the third quarter of 2011. Of this, 48.0% was for new dwellings, 29.7% for other new constructions and 22.3% for extensions. The total floor area planned decreased by 31.4% in comparison with the same quarter in 2010.
- Planning Permissions for new buildings for Agriculture rose to 194 this quarter. This compares to 132 permissions in the same quarter of 2010.
More detailed analysis of CSO data shows that total number of new permissions rose 4.76% qoq in Q3 2011 from 4,244 in Q2 2011 to 4,446. However, Q3 2011 total number of permissions was down 16% yoy and down 74.4% on the peak attained in Q3 2007.
Charts below illustrate:
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