Housing completions fell by 33% in the second quarter of the year to a total of 3,220, the latest BER Tracker from Goodbody shows.

Scheme completions fell by 37% to 1,770, apartments were down by 35% to 450, while single properties outperformed, falling by 24% year-on-year to 1,000.

Goodbody said although this represents the largest annual decline in housebuilding in eight years, it is ahead of their expectations, and suggest that housing output has rebounded somewhat after construction sites reopened in the middle of May.

It expects housing completions to fall substantially this year (-20%) but are revising up their estimate to 16,500 from 14,000.

For 2021, it now expects 19,500 completions, up from the previous estimate of 16,000.

The report states that Dublin experienced the largest decline in housing output in the second quarter, down 48%, but large-scale declines were seen country-wide.

According to Goodbody, housing commencements fell by 46% in the second quarter, with the largest decline in Dublin's commuter counties.

It said this suggests that builders are focusing on completing existing sites and suggests that the pandemic will have longer lasting impacts on output levels beyond 2020.

Meanwhile, analysis of the property price register reveals a 40% decline in new home sales in the second quarter, with smaller builders outperforming.