Construction BUSINESS

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Construction fuels employment growth

    Construction fuels employment growth

Ibec has welcomed the strong jobs numbers recently published by the CSO. The numbers provide more evidence of broad positive momentum in the economy, despite Brexit uncertainty. Employment grew by 2.9% in the first half of the year, closely in line with Ibec forecasts.
The strongest growing sectors were ICT and construction which experienced growth of […]

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Profits at John Paul Construction treble

    Profits at John Paul Construction treble

John Paul Construction trebled profits to more than €6 million last year on the back of growth in Ireland and the UK, according to its latest accounts show. Accounts filed by its parent John Paul Holdings Ltd show operating profit grew by 300% to €6.3 million last year, from €2.1 million in 2015.
Directors Eamon Booth and Conor O’Donnell […]

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New order growth accelerates in July

    New order growth accelerates in July

New order growth quickened in the Irish construction sector during July, helping to support a further sharp rise in activity and a stronger rate of job creation according to the Ulster Bank Construction Purchasing Managers’ Index (PMI).
The rate of expansion in total construction activity eased to the weakest since January. The Ulster Bank Construction Purchasing […]

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Dublin outperforms in terms of hotel occupancy

    Dublin outperforms in terms of hotel occupancy

A new report released by JLL has found that Dublin as a New World City alongside cities such as Melbourne and Vancouver, has outperformed in recent years in terms of hotel occupancy, demand and revenue per available room.
This follows an in-depth analysis of 106 cities worldwide facing change in the global hotel industry. The research […]

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Dublin’s construction sector hits 16-year high

According to the latest Dublin Economic Monitor, the pace of growth in the construction sector in Dublin is at its strongest in 16 years. The capital’s private sector is showing no signs of a let-up in its strong performance with output growth accelerating from the first three months of the year.
Expansion in economic activity, business […]

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Construction activity growth rises sharply

    Construction activity growth rises sharply

Activity in the construction sector accelerated sharply last month and at one of the fastest rates in the 17-year history of the Ulster Bank Construction Purchasing Managers’ Index. The index rose to 63.6 in May, compared to 61.3 in April.
The pace of growth is the fastest seen since February 2016 and activity in the sector […]

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Survey finds support for M20 between Limerick and Cork

    Survey finds support for M20 between Limerick and Cork

Businesses in the Munster region have given their overwhelming support to the proposed M20 motorway, with 98% stating it will enhance economic linkages between Cork and Limerick. Initial findings from a Red C Research survey of businesses conducted as part of an ongoing study into the proposed motorway also found that an equal amount believe […]

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Activity rises at fastest pace in five months

    Activity rises at fastest pace in five months

The Ulster Bank Construction PMI Report (RoI) has found that the rate of expansion remained strong in the Irish construction sector amid reports of improving client demand. New order growth was sharp and only marginally weaker than in February. Constructors responded by raising their own input buying and employment levels. Business confidence remained positive as […]

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Wolseley rebrands as Ferguson

    Wolseley rebrands as Ferguson

Wolseley, the world’s leading specialist distributor of plumbing and heating products, has announced revenue of €9.91 billion (£8.46 billion) for its H1 2017 period. The increase was up 24.5% on 2016. Trading profit increased 25% year on year to £515 million. Net debt at end-January was £1.3 billion, while an interim dividend per share of […]

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New homes construction reaches seven-year high

    New homes construction reaches seven-year high

Construction of new homes reached a seven-year high in January, as developers look to capitalise on Help to Buy by increasing their output.
Latest figures from the Department of Housing have revealed that approximately 1,244 units were completed across the country in January, up by 35% year on year. These figures are based on electricity connections […]

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Academy set up to address skills shortage in NI construction sector

    Academy set up to address skills shortage in NI construction sector

A new academy has been set up in Co Armagh to address major skills gaps in the construction sector. The National Construction Skills Academy (NCSA) in Portadown will provide tuition in trades including bricklaying, plastering, tiling and joinery.
A survey carried out by recruitment Manpower said there was a growing number of jobs in construction in […]

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Profits rise at engineering firm Ward & Burke

    Profits rise at engineering firm Ward & Burke

Galway-based specialist engineering company Ward & Burke posted a pre-tax profit of €13.8 million last year, up 11%, thanks to business in Canada. Revenues at the firm rose 6% to €156.9 million. The company, which employs almost 400 people, saw its turnover generated in Ireland fall 42%, or €17 million, last year.
However, it said it’s […]

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Housing and commercial activity grow – PMI

    Housing and commercial activity grow – PMI

Activity in the construction sector rose sharply last month, according to the latest Purchasing Managers Index from Ulster Bank. Ulster Bank’s Construction PMI for February stood at 57.9, up from 55.7 in January and well above the 50 mark that separates growth from contraction. Housing activity saw the strongest pace of growth in February, with […]

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Construction and building output up 0.9% in fourth quarter of 2016

    Construction and building output up 0.9% in fourth quarter of 2016

New figures from the Central Statistics Office show that the volume of output in building and construction increased by 0.9% in the fourth quarter of 2016 when compared with the previous three months.
The CSO reported an increase of 4.2% in the volume of residential building work during the fourth quarter of 2016.  But the volume […]

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Grafton builds up 13% increase in revenues for 2016

    Grafton builds up 13% increase in revenues for 2016

Builders’ merchant and DIY group Grafton recently announced a 13% increase in revenue for 2016 to just over £2.5 billion – a new high for the company. The company said its adjusted group operating profit for the year to the end of December rose by 12% to £142 million. Pre-tax profits for 2016 were up […]

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Coveney announces €32 Million for Repair and Leasing Scheme

    Coveney announces €32 Million for Repair and Leasing Scheme

The Minister for Housing, Planning, Community & Local Government Simon Coveney announced on Thursday that the pilot scheme that targets vacant properties and secures them for social housing, by financing the cost of repairs, is to be rolled out on a national basis. An additional €26 million is being provided to fund the scheme in […]

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Kingspan Full Year Report Shows Revenue up 12 Percent in 2016

    Kingspan Full Year Report Shows Revenue up 12 Percent in 2016

Full year results for Cavan-based building materials producer, Kingspan, released on Friday, showed revenue up 12% to €3.1 billion in 2016.  Trading profit was up 33% to €340.9 million, while acquisitions contributed 11% to sales growth and 7% to trading profit growth in the year.
“2016 was another record year for Kingspan,” Kingspan Chief Executive Gene Murtagh […]

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January Sees “Near-Record” Rise in Construction Employment

    January Sees “Near-Record” Rise in Construction Employment

Activity in the Irish construction sector rose sharply in January on the back of higher new orders, according to the Ulster Bank Construction PMI Report, released on Monday. The survey highlighted a near-record rise in employment as companies responded to greater workloads.
The rate of input cost inflation quickened to the sharpest since February 2007 according […]

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Mortgages Valuing €1.81 Billion Drawn Down in Q4

    Mortgages Valuing €1.81 Billion Drawn Down in Q4

9,115 mortgages, valued at €1.81 billion were  drawn down in the fourth quarter of 2016, according to figures released by Banking and Payments Federation Ireland on Thursday.
These latest figures represent an increase of 12.1% in volume and 16.4% in value compared to the third quarter of 2016. They also represent an increase of 14.0% in volume […]

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Mortgage Approvals Increase by 30.7 Percent in Final Quarter of 2016

    Mortgage Approvals Increase by 30.7 Percent in Final Quarter of 2016

The number of mortgages approved in the three months ending December 2016 rose by 30.7% year-on-year and fell  by 6.9% month-on-month, according to figures released by the Banking & Payments Federation Ireland on Friday.
The report also found that, during this time period, an average of 3,144 mortgages were approved per month. with 1,492 (47.4%) for first-time buyers (FTBs) while […]

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New Home Searches Increase by 125% – Daft.ie

    New Home Searches Increase by 125% – Daft.ie

Searches for new homes increased by 125% on the back of the Help-to-Buy scheme launch, according to Irish property website Daft.ie.
The website, which has 2.21 million unique users per month, recorded an increase of 125% in searches for new homes when compared with the same period last year.
Interest in new homes was greatest in the Dublin […]

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Construction Production up 0.4 Percent in the EU

    Construction Production up 0.4 Percent in the EU

Seasonally-adjusted production in the construction sector increased by 0.4% in both the euro area and the 28 EU member states in November compared with October, Eurostat, the statistical office of the European Union, announced on Wednesday. In October 2016, production in construction grew by 0.4% in the euro area and by 0.3% in the EU. Compared […]

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Construction Activity Continues to Rise for 40th Month in a Row

    Construction Activity Continues to Rise for 40th Month in a Row

The Ulster bank Purchasing Managers’ Index (PMI) for December, released on Monday, showed that activity in the construction sector constinued to rise until the end of 2016. The report gave December a 58.9 in December, down from 59.8 in November. For the PMI index, any reading above 50 represent a growth over the previous month.
Rates […]

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Investment In Irish Commercial Property Reached €4.5 Billion In 2016

    Investment In Irish Commercial Property Reached €4.5 Billion In 2016

Commercial property consultants CBRE Ireland released statistics on Friday, detailing the volume and value of investment in Irish commercial property in 2016 and showing that a total of €4.5 billion was invested in Irish CRE in the 12 month period. This is a significant result considering it excludes commercial properties traded as part of loan […]

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House Price Inflation May Hit Double-Digit Levels in 2017

    House Price Inflation May Hit Double-Digit Levels in 2017

Irish house price inflation is set to accelerate in 2017, potentially reaching double-digit levels, according to the MyHome.ie property report for the final quarter of 2016.
“Clearly low stock levels will be the main driver of what’s happening in the market and will be for the foreseeable future,” MyHome.ie Managing Director Angela Keegan said. “Our report […]

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Mortgage Approvals Rise by 30.8%

    Mortgage Approvals Rise by 30.8%

The number of mortgages approved rose by 30.8% year-on-year and  increased by 2.0% month-on-month, according to the latest figures from the Banking & Payments Federation Ireland (BPFI)  Mortgage Approvals Report for the three months ending November 2016, released on Thursday.
The report also found that a total of 3,377 mortgages were approved per month, on average, […]

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Construction Industry to Experience Most Positive Outlook in a Decade

    Construction Industry to Experience Most Positive Outlook in a Decade

The economy is growing at a solid pace, and the quantity and quality of buildings and infrastructure delivered by the construction industry will play an important role in that economic recovery according to a recent CIF Report on Construction Skills and Prospects to 2020. The report says that there is a significant challenge the industry […]

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Planning Permissions Granted for Apartments Increase by 304.5%

    Planning Permissions Granted for Apartments Increase by 304.5%

The number of apartment dwelling units granted planning permission in the third quarter of 2016 rose to 1,452, up from 359 in 2015, an incrase of 304.5%, the CSO revealed on Monday.
4,362 houses were also granted planning permission in the third quarter of 2016, up from 2,345 in 2015, and increase of 86%. Overall, the […]

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House Price Inflation to Accelerate by Year-end – Davy Research

    House Price Inflation to Accelerate by Year-end – Davy Research

House price inflation is expected to accellerate by year-end, according to research published by Davy Research on Monday. The analysis by David McNamara cited CSO house price data for October which showed another strong gain on the month with prices up 0.8%.
On the year, inflation is now running at 7.1% nationally and 6.1% in Dublin. […]

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Construction Industry Set to Grow by 9% Annually up to 2020

    Construction Industry Set to Grow by 9% Annually up to 2020

The Construction Industry Federation (CIF) launched a career website on Monday in the wake of a report that construction activity can sustain an additional 112,000 jobs up to 2020 with an estimated €17.8billion worth of projects in the pipeline in 2017.
The DKM economic consultants report, Demand for Skills in Construction to 2020, indicated that the […]

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Ulster Bank Construction PMI Shows Sharp Rise in Employment

    Ulster Bank Construction PMI Shows Sharp Rise in Employment

Irish construction firms continued to record strong activity growth during November, supported by a further sharp increase in new orders, according to the Ulster Bank Construction PMI released on Monday.
Rising workloads encouraged companies to up their rate of job creation and increase purchasing activity. Meanwhile, there were further signs of intensifying price pressures. The Ulster […]

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Dublin Ranked Fourth Most Attractive City for Property Investment

Photo credit: Hans-Peter Bock hpbock@avaapgh.de
Dublin is the fourth most attractive city in Europe for real estate investment, according to an analysis by PwC and the Urban Land Institute (ULI) released on Thursday. Dublin saw €4 billion of real estate activity in the 12 months before September 2016, putting it behind Berlin, Hamburg and Frankfurt, and […]

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Retail Property Rents Predicted to Grow 7-10% Over Next Two Years

    Retail Property Rents Predicted to Grow 7-10% Over Next Two Years

Retail property rents are expected to see increases of between 7 and 10 percent over the next 2 year,s according to a new report released by property consultants, Savills Ireland, on Friday December, 2.
“Rents in some prime shopping locations have already risen by more than a third over the last three years,“ Director of Research […]

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136 New Office Buildings to be Built in Dublin

    136 New Office Buildings to be Built in Dublin

136 new office buildings, totaling more than 12 million square feet, are planned to be built in Dublin over the next five years, according to Savills’ 2016 Skyline Survey. The developments, intended to provide working space for more than 100,000 employees, are largely centered in Dublin’s central business district, with the majority of the developments […]

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Daft.ie Rent Report Blames ‘Systemic Failure’ for Lack of Construction

    Daft.ie Rent Report Blames ‘Systemic Failure’ for Lack of Construction

The Daft.ie Rental Report for the third quarter of 2016, released on Tuesday, November 8, called the lack of residential construction in Ireland during the last five years a “systemic failure in desperate need of policy solutions.”
The report, written by Trinity College Dublin economist Ronan Lyons, said that the double-digit inflation in rents were caused […]

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Electroroute secures major partnership with Mitsubishi

    Electroroute secures major partnership with Mitsubishi

Irish energy and trading services firm Electroroute has agreed a deal that will see Mitsubishi Corporation take a 60% stake in the company.
Electroroute’s path to International markets will now be supported by a company with a market capitalisation of €32 billion.
With these opportunities for expansion, the company will now begin to open its first offices […]

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End of Q3 sees another monthly expansion in Irish construction

    End of Q3 sees another monthly expansion in Irish construction

The Ulster Bank Construction Purchasing Managers Index (PMI) rose to 58.7 last month, as Irish construction continues to expand.
The monthly measure of activity in the sector rose from 58.4 in August. After the collapse in construction with the economic crash, the index has shown sustained growth over the past three years. New orders, for example, […]

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Report shows Significant Growth wth Flynn Management & Contractors

Flynn Management & Contractors has reported a significant growth in 2015 and predicts a revenue of approximately €100m for 2016.

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CRH First-half Earnings Raise by 10%

CRH, a building materials group, has stated that its first-half earnings most likely rose by 10% ahead of its preceding guidance, an advancement examiners connect to powerful trading in its main market, the United States.

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Rebuilding Ireland: First-time Buyers Scheme

The Government’s Action Plan on Housing and Homelessness, ‘Rebuilding Ireland’ was launched today by Taoiseach Enda Kenny, Housing Minister Simon Coveney, Public Expenditure Minister Paschal Donohoe and Minister of State Damien English.

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Government’s Plan of €5.5bn Available for Social Housing

The Government has formally released its housing and homelessness project labeled ‘Rebuilding Ireland’.

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Grafton Group first-half revenue rises 13.3%

Grafton Group recorded a 13.3% rise in first half revenue and said despite the uncertainty created by U.K.’s decision to leave the European Union, the company is well positioned to take advantage of any opportunities that may emerge.
Though it has operations in the Netherlands and Belgium, most of the Irish based company’s business is in […]

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Construction sector grows in June

Confidence on the growth prospects for the Construction sector was close to a record high last month, according to the latest Ulster Bank Purchasing Managers index.
The main index rose from 55.9 to 59.7 during the second quarter- any figure above 50 indicates growth.
This leaves the index – a monthly measure of activity and sentiment – significantly above the 50 no-change benchmark. […]

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Development land sales up €200m in first six months

According to a new report by CBRE, sales of development land came to €489m in the first half, up from €276m in the same period last year.
The number of transactions was effectively flat at 53, compared to 54 last year.
CBRE’s Peter Garrigan said there had been strong activity following a “bumper year” in 2015 when […]

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Residential property prices up 6.9%

In the year to May, residential property prices at a national level increased by 6.9%. This compares with an increase of 7.1% in April and an increase of 13.8% recorded in the twelve months to May 2015.
Residential property prices increased by 0.2% in the month of May. This compares with an increase of 0.3% in […]

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Rate of expansion in construction activity eases

Activity in the construction sector expanded again in March, according to the latest Ulster Bank Construction Purchasing Managers’ Index, as new order growth remained robust.
The industry posted a figure of 62.3 last month – well above the 50 mark that separates growth from contraction – but below the all time high of 68.8 seen in […]

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Oil prices ascend in Asia as output meeting approaches

With Brent climbing back above $40, the oil prices leaped in Asian trade today, as the market digested falling US output ahead of a producers’ meeting this month to discuss a proposed output freeze.
In 11 weeks, the US production fell for the 10th time, to 9 million barrels per day in the week up to […]

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Dublin Airport will get a new runway

The Dublin Airport Authority (DAA) is aim to build a new runway.
It will be built 1.6 kilometres north of the present and main runway at Dublin Airport.
It is expected to be delivered in 2020 and will cost €320m. Some 1,200 jobs will be supported during the construction phase, which is expected to being in 2017.
In August 2007 the […]

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Commercial estates value over €735M sold so far in 2016

In the first three month of the year 2016 were sold a total of 55 commercial properties in Ireland, showed by new figures.
Property consultants CBRE Ireland say the properties have a value totalling more than €735m between them.
Conforming to CBRE Ireland, demand for prime commercial property investments has continued “unabated” in the first quarter of 2016.
It […]

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Under PRTB, housing association properties brought remit

The role of the Private Residential Tenancies Board (PRTB) is being expanded, it was advised today. Approved Housing Bodies will be brought under its remit, meaning that landlords and tenants of housing union properties will be able to access the services of the board as well.
Nearly 20% of  five households in the country were renting their arrangements in the […]

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Brittany Ferries advices 19% growth in early bookings

Brittany Ferries has today advised a 19% growth in the number of early bookings compared to the corresponding period last year.
It carried last year an additional 5,000 passengers on its seasonal service from Cork to Roscoff with a total of 84,000 passengers being transported , matched to just under 79,000 the previous year. Over half of passengers […]

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Property prices up 8% in year to end of february

Residential Property Price Index
February 2016
Price Index (Jan 2005=100)  Monthly % change Annual % change
Dec 2015           86.8                    0.5%                      6.6%
Jan 2016           86.4             […]

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Over 400 tall buildings are planned in London

The number of tall buildings in the pipeline for London continues to grow,  research, which is updated annually, is published by New London Architecture (NLA) and GLHearn and includes buildings of 20 floors and more.
Since January 2015, the number of tall buildings that are under construction has increased from 70 to 89.
A total of 233 tall […]

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Value of Construction projects in 2015 rise by €3.19b

The total value of all construction projects commenced in 2015 jumped significantly throughout the year, increasing by €3.19 billion to €6.12 billion when compared to the same period in 2014 according to the latest edition of the Building Information Index.
This rise in the value of construction activity equates to an increase of +109% in the value of actual […]

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Trinity College has been given a green light to proceed with the development of a €52m student accommodation project Pearse Street in Dublin.

    Trinity College has been given a green light to proceed with the development of a €52m student accommodation project Pearse Street in Dublin.

The scheme intends to demolish the five-storey Oisin House, which is adjacent to Trinity, and the construction of a seven-storey, 13,800 sq m development that will house 278 student accommodation units.
In the planner’s report for the project, DCC expresses some concern over the shape of the proposed redevelopment, particularly from certain parts of campus and Pearse […]

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Construction activity growth seen as employment levels rise

    Construction activity growth seen as employment levels rise

Construction sector activity was at its strongest in seven months in January with job creation levels also rising for the third month running.

According to the Ulster Bank Construction Purchasing Managers’ Index (PMI), the construction industry in Ireland experienced its strongest expansion since June of last year.

The headline reading for the PMI was 63.6, up significantly […]

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Construction activity growth at five month high – PMI

    Construction activity growth at five month high – PMI

The country’s construction sector ended 2015 on a positive note, with activity in December surging to a five month high.
The latest Ulster Bank Construction Purchasing Managers Index – a seasonally adjusted index designed to track changes in total construction activity – rose to 58.6 in December from 55.5 in November.
The index has now increased in […]

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Almost €3.5bn in property investments during 2015

    Almost €3.5bn in property investments during 2015

Investment property transactions reached almost €3.5 billion as a total in 2015, in Ireland, with nine individual transactions which came in at over €100 million. They included a mix of portfolio sales or large single-asset retail or office sales.
Volumes were reported to be steady during each quarter of the year, but they were boosted by a strong […]

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