The Housing Minister denies he's failed after his first year in the job

14,446 new homes were completed in 2017 – that’s an increase of almost 50% on 2016.

58% of these were housing estates, 14% were apartments and 28% were single homes, according to new figures from the Central Statistics Office

76% of the homes were built in urban areas compared to 23% in rural areas.

The number of new homes declined from 6,994 in 2011 to a low of 4,575 in 2013.

3,526 new homes were built in the first three months of 2018, an increase on the same period in 2018.

Reacting to the figures, Housing Minister Eoghan Murphy says it proves that 'Rebuilding Ireland' is working, and Minister Murphy has denied that he's failed in his role after his first year in the job:

It comes as the Finance Minister has announced cabinet approval for the publication of the Home Building Finance Ireland Bill.

HBFI will receive funding of €750 million from the NAMA run Ireland Strategic Investment Fund to increase the supply of financing for residential developments.

It's estimated that the HBFI could have the capacity to fund in the region of 6,000 homes in the coming years.