The number of homes built last November increased by 53% when compared with the same month in 2016, according to figures from Goodbody.

The professional services firm’s ‘BER Housebuilding Tracker’ states that 1,191 new units were registered during the month, giving the highest monthly reading since the series began in December 2013.

November was also the third consecutive month where completions exceeded 1,000 units.

According to Goodbody’s tracker, in the year to the end of November, 8,659 units were completed – representing a 77% year-on-year rise.

The figures indicate Dublin accounted for around half of all new homes built during the month, with the Greater Dublin Area (which includes Kildare, Meath, and Wicklow) accounted for 73% of new activity.

They also show 1,428 apartments were completed in the first 11 months of 2017, with Dublin accounting for 94% of these.

Apartments account for 30.9% of new builds in the capital, but less than 2% outside Dublin. 

In its assessment Goodbody said: "We believe that alternative housebuilding indicators continue to overstate supply with the electricity connections data suggesting a much higher level of output (17,309 units over the same period)."

Official figures measure new builds based on electricity connections, as opposed to on Building Energy Rating certs.

The Goodbody reports states that "to resolve Ireland’s housing shortage, a substantial increase in apartment construction will be required.

"This is currently being inhibited by high costs of apartment delivery and planning restrictions on densities and heights.

"In December, the Department of Housing published new draft guidelines for new apartments that contain measures to alleviate some of these issues. This is a positive development in our view, but will take some time to feed through."