It is now broadly expected that 2023 will have marked a fresh post-Celtic Tiger high in the construction of new homes. An analysis of commencement notices undertaken by Goodbody Stockbrokers published last week estimated that 33,000 new homes were started during 2023. Official data still only go to November 2023 but, in the 12 months before that, more than 31,400 homes were started. Of these, just under 5,000 were one-offs. These are certainly important additions to the housing stock for those who live in them. Nonetheless, they are somewhat irrelevant in the broader picture.  As shown in the first chart,…

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