A new survey of residential planning activity in the Greater Dublin Area shows the number of planning applications across Dublin’s four local authority areas was 40 percent lower in the first three months of this year, compared to the third quarter of 2014.

The society says that one of the key factors contributing to the slowdown in planning applications is uncertainty over proposed government legislation which will lower the proportion of social housing required in each new development.

The Survey by the Society of Chartered Surveyors in Ireland (SCSI) reveals that just over 2,300 planning applications were lodged across the capital in the quarter to March - while 1,605 units commenced in Dublin.

The Society states that unless this pace picks up, the minimum 7,000 new housing units required in the Capital during the year, will not be met, thus adding to the city’s housing shortage.

Andrew Nugent, Vice President of the Society of Chartered Surveyors Ireland said, "Planning permissions are a good indicator of the levels of supply that will be brought to the market and the SCSI has concerns that the permissions granted in the first quarter of 2015 are 40 percent lower than those in the third quarter of 2014 and that this will have a knock on effect on an already supply constrained market”.