The number of houses completed in Dublin at the end of last year reached its highest peak in over a decade.
Figures from the Dublin Economic Monitor show there were 2,472 houses built in quarter four of 2020.
However, commencements are down 25% compared to the same time period of 2019.
The report also shows spending and business activity is down with public transport usage reduced by over 57%.
Commenting on the DEM’s findings, Andrew Webb, Chief Economist with Grant Thornton, said:
“As we move further into 2021, our economic fortunes now feel exclusively wedded to how fast the vaccine rolls out."
"It is unsurprising, given the restriction levels in place over this recent quarter, that many indicators in this Economic Monitor have moved sharply in the wrong direction."
"However, hope comes from the evidence of sharp increases in activity that followed previous easing of restrictions as this points towards pent up demand and an economy that will move swiftly through the gears to regain lost ground."
"A recovery is certain but the timeline, unfortunately, is not.”
