DAVY VIEW

Housing completions rose close to 30,000 in 2022, showing that activity was stronger than expected, and that there is already sufficient capacity in the sector for a level of output that some commentators had suggested would not be possible to achieve. However, build cost inflation, viability issues and difficulties with the planning system no doubt contributed to the decline in housing starts to 27,000 in 2022, so completions will likely fall back a little this year.