2024 Ireland new home target at risk due to low completion rate and decreased pipeline.

The Irish government's target of 33,450 new homes for 2024 may be at risk, despite a surge in housebuilding activity in the first half of the year. The latest construction PMI data from BNP Paribas Real Estate Ireland has shown a solid monthly increase in July, but a depleted pipeline of schemes under development from the previous year, and a slow completion rate, pose challenges. To meet the target, 20,700 units need to be delivered in the second half, which would require an 11% increase over the units delivered in the second half of 2023.