Construction BUSINESS

Reports

Residential Property Prices Rise by 8.2% in the Year to September

    Residential Property Prices Rise by 8.2% in the Year to September

In the year to September, residential property prices at national level increased by 8.2%, according to the CSO. This compares with an increase of 8.9% in the year to August and an increase of 12.0% in the twelve months to September 2017.
In Dublin, residential property prices increased by 5.8% in the year to September. Dublin […]

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Residential Property Prices Rise by 12.4% in the Year to May

    Residential Property Prices Rise by 12.4% in the Year to May

In the year to May, residential property prices at national level increased by 12.4%, according to the CSO. This compares with an increase of 13.5% in the year to April and an increase of 10.9% in the twelve months to May 2017.
In Dublin, residential property prices increased by 10.7% in the year to May. Dublin […]

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Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply

    Major New Report on Housing Outlines Policy Actions to Boost Affordability and Supply

Ibec, the group that represents Irish business, has launched a new national campaign – Better Lives, Better Business championing new policies across four key pillars – housing, infrastructure, planning and sustainability. Better Lives, Better Business is a campaign that aims to make Ireland a better place to live and to work so that Irish businesses can more effectively attract […]

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Social Housing Construction Status Report and Social Housing Delivery Targets for Local Authorities 2018-2021

    Social Housing Construction Status Report and Social Housing Delivery Targets for Local Authorities 2018-2021

The Government has published the Quarter 4 2017 Social Housing Construction Projects Status Report, which sets out the significant progress made to date in advancing the construction pipeline, as well as social housing delivery targets for local authorities for 2018-2021. At end-2017, 2,512 homes were completed, 3,650 were under construction and 1,912 further homes were […]

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Progress on Actions to Address Unfinished Housing Developments

    Progress on Actions to Address Unfinished Housing Developments

The Government has published the sixth annual progress report and seventh housing survey on tackling the issue of unfinished housing developments. This reveals a 91% reduction in the unfinished developments since 2010 from almost 3,000 to 256.  2017 saw the resolution of 165 developments.
The report includes the results from the 2017 National Housing Development Survey […]

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Four Times More New Houses Need to be Built in 2018 Compared to Last Year

    Four Times More New Houses Need to be Built in 2018 Compared to Last Year

Initiative Ireland, headquartered at NovaUCD, has launched a new annual housing report, entitled Housing 2031. The report was commissioned to provide a more accurate and consistent view of housing supply and demand over the last 25 years in the Republic of Ireland, to more reliably forecast true housing demand up to 2031.
Padraig W Rushe, CEO of […]

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Linesight Launches Purpose-built Student Accommodation Report

    Linesight Launches Purpose-built Student Accommodation Report

Multinational construction consultancy firm, Linesight, has launched a report on the Purpose-Built Student Accommodation(PBSA) sector in Ireland. The report is an analysis of the supply/demand, pricing, costs and international design trends in the sector and captures feedback from 16 interviewees with the Higher Education Institutions(HEIs) and the private sector involved in PBSA.
July 2017 saw the announcement […]

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Residential Property Prices Rise by 11.6% in the Year to November

    Residential Property Prices Rise by 11.6% in the Year to November

In the year to November, residential property prices at national level increased by 11.6%, according to the CSO’s Residential Property Price Index November 2017 report. This compares with an increase of 11.8% in the year to October and an increase of 9.2% in the twelve months to November 2016.
In Dublin, residential property prices increased by […]

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JLL Predicts a Buoyant Year For Ireland’s Hotel Industry

    JLL Predicts a Buoyant Year For Ireland’s Hotel Industry

What does 2018 have in store for the Irish Hotels Market? JLL expects approximately 1,300 new hotel rooms to open in Dublin City, representing a +6.0% increase in current room supply. The first new hotel to open will be the Iveagh Garden Hotel (pictured above), which opens this month on Harcourt Street.
The summer will also see […]

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Rents in Dublin grew by 3.3% in Quarter 2 2017

    Rents in Dublin grew by 3.3% in Quarter 2 2017

According to the Residential Tenancies Board, private sector rents grew 6.6% in the year end to the end of June this year. However, the rate of increase in the second quarter was marginally slower than in Quarter 1. The standardised average national rent stood at €1,017 per month in Q2, 2017 – up by €63 – […]

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Growth of activity remains marked, but slows to 29 month low – Ulster Bank Construction PMI

    Growth of activity remains marked, but slows to 29 month low – Ulster Bank Construction PMI

Growth in the Irish construction sector eased again, with slower rises in both activity and new orders recorded. That said, rates of expansion remained marked and firms upped their rate of job creation. The Ulster Bank Construction Purchasing Managers’ Index (PMI) – a seasonally adjusted index designed to track changes in total construction activity – dipped for […]

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Cork building sector demands upgrades to road and water network

    Cork building sector demands upgrades to road and water network

According to a report in the Evening Echo, major infrastructure works are needed to bring land marked for housing development up to scratch. The report says that construction experts in Cork believe issues with roads and water are hindering progress in major housing developments throughout the city and county.

Conor O’Connell, regional director at the Construction […]

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Survey reveals one in five people might never afford their own home

    Survey reveals one in five people might never afford their own home

The 123.ie Irish House & Home Survey has revealed that affordability is a huge issue for those not currently on the property ladder with almost one in five (19%) reporting that that they don’t think they’ll ever be in a position to buy their own home, despite the fact that 91% of adults currently renting […]

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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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Construction industry could lead the way on closing gender pay gap – RICS

    Construction industry could lead the way on closing gender pay gap – RICS

A OnePoll survey commissioned by the Royal Institution of Chartered Surveyors (RICS) in the UK has found that despite an optimistic outlook about the gender pay gap figures across the construction sector, with nearly half (46%) of construction workers predicting the gap will be less than 15% by April 2018, businesses need to do more […]

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Resources for Budget 2018 €400 million more than estimated

    Resources for Budget 2018 €400 million more than estimated

Ibec has called on the Government to show further ambition in meeting Ireland’s critical infrastructure and demographic needs. Launching the group’s Budget 2018 submission, Ibec said that the Government has more within its power to spend on investment in much needed infrastructure, education and training, if it so chooses.
Speaking at the launch of the submission, […]

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Strong office take-up In Dublin in first half of 2017

    Strong office take-up In Dublin in first half of 2017

Commercial property consultants, CBRE Ireland has released statistics on the volume of office lettings signed in Dublin during the first half of 2017, showing that more than 150,000 square metres of office lettings were signed in the capital during the first six months of 2017.
There were 81 office lettings signed in the second quarter of […]

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Top 50 CIF Contractors 2017 announced

    Top 50 CIF Contractors 2017 announced

According to the CIF, its Top 50 Contractors list for 2017 provides us with a unique snapshot of the Irish construction industry. This is an industry that has faced many challenges throughout the last decade, and is once again experiencing growth. The companies featured in the latest issue of Construction Magazine are the elite and […]

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John Sisk & Son is top builder in CIF report

    John Sisk & Son is top builder in CIF report

With 2016 revenues of €1.05 billion, John Sisk & Sons has come out on top in the CIF’s Top 50 CIF Contractors list for 2017. Jones Engineering Group and BAM both posted revenues of €385 million. Combined revenues at the top 50 building contractors surveyed soared by almost €1 billion in 2016 as the sector […]

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Apprentices must play a key role in rebuilding the construction industry

    Apprentices must play a key role in rebuilding the construction industry

Construction employment could rise to 213,000 by 2020 based on DKM and SOLAS analysis. However, Ireland’s economic recovery may be hampered by a potential skills shortage within the construction sector, if more is not done to attract people into and to develop those already in the industry.
The Construction Industry Federation recently addressed the Oireachtas Joint […]

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Over €1.4b worth of construction projects moved on-site in Q1 2017

    Over €1.4b worth of construction projects moved on-site in Q1 2017

Construction Information Services (CIS) have just published their Q1 2017 Construction Market Review which provides an analysis of activity in the construction sector for the first quarter of 2017 and a comparative analysis against the corresponding period in 2016.
Key Stats
Over €1.4 billion worth of projects moved on-site in Q1 2017
Value of projects on-site is down […]

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Industry needs 112,000 workers up to 2020

    Industry needs 112,000 workers up to 2020

Commenting on the recently announced CSO housing figures, CIF Director General Tom Parlon said the current housing shortage is the result of a decade of underinvestment in the housebuilding sector compounded by an infrastructure deficit and a market failure in finance for homebuilders. “Currently housebuilding, outside Dublin and Cork, cannot attract finance at viable rates […]

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Residential property prices rise by 10.7% in the year to February

    Residential property prices rise by 10.7% in the year to February

According to the latest property price index from the Central Statistics Office (CSO), residential property prices at national level increased by 10.7% in the year to February. This compares with an increase of 8.1% in the year to January and an increase of 5.4% in the 12 months to February 2016.
In Dublin, residential property prices […]

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Irish organisations could capture over €200m of solar PV sector

    Irish organisations could capture over €200m of solar PV sector

According to the Sustainable Energy Authority of Ireland (SEAI) which published ‘Ireland’s Solar Value Chain Opportunity’ at the recently-held SEAI Energy Show, solar PV (photovoltaics) is set to become one of the most important and fastest growing energy technologies globally to help us meet climate change goals. Irish organisations could capture over €200 million annually […]

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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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Census shows Government infrastructure investment is a must as population growth continues

    Census shows Government infrastructure investment is a must as population growth continues

The new Census figures released by the CSO today show that investment in public infrastructure is now more important than ever, as our population continues to increase. Ireland’s population stood at 4.76 million in 2016 an increase of 3.8 per cent since 2011.
Ibec’s Director of Policy and Public Affairs, Fergal O’Brien stated: “Our growing population […]

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Industry set to grow by further 15% – Linesight

    Industry set to grow by further 15% – Linesight

Linesight’s annual Ireland Handbook for 2017 has stated that construction could create up to 80,000 new jobs if it were to grow to full capacity. The Handbook also shows that the building industry grew by 18% in 2016 and is set to grow by a further 15% this year.
According to the firm, commercial building in […]

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Homeowners spent billions on their homes in 2016

    Homeowners spent billions on their homes in 2016

Irish homeowners have availed of €1.2 billion in total through the Home Renovation Incentive (HRI) since its launch in 2013. This incentive has facilitated homeowners in carrying out nearly 77,000 home improvement projects over the last three years with an average spend of €16,000 per project. The extension of the HRI to rental properties in […]

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Role of construction to become more important to domestic economy

    Role of construction to become more important to domestic economy

A recent report by the ESRI has found that increased activity in the construction sector is impacting both investment and consumption. Higher levels of residential and commercial supply are increasing investment while higher actual and implicit rents are some of the main determinants of consumption.
The growth outlook for the Irish economy remains optimistic for 2016 […]

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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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Coveney announces two-week extension for submissions on National Planning Framework Ireland 2040 – Our Plan

    Coveney announces two-week extension for submissions on National Planning Framework Ireland 2040 – Our Plan

Minister Simon Coveney has announced that he has extended the public consultation phase of the National Planning Framework Ireland 2040 – Our Plan, from 16th March to Friday 31st March 2017.
Since the national consultation for the preparation of the Plan began on 2nd February, the Minister and his officials have had extensive engagement with stakeholders […]

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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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More Than €8 Billion Worth of Construction Projects Went On-Site in 2016 – CIS

    More Than €8 Billion Worth of Construction Projects Went On-Site in 2016 – CIS

Over €8 Billion worth of construction projects went on-site in 2016 according to Construction Information Services (CIS) on Wednesday. The finding comes from the recently published 2016 Construction Market Review that also shows that almost €11 Billion worth of projects moved to Plans Granted stage while over 16,500 residential units were granted planning permission.
CIS says the €8 […]

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More Than One Third of Construction Companies Report Recruitment Difficulties

    More Than One Third of Construction Companies Report Recruitment Difficulties

The September – December 2016 InterTradeIreland Business Monitor Report, issued on Monday, shows that 37 percent of construction companies surveyed reported difficulties recruiting skilled labour, with 33 per cent citing a lack of appropriate skills in their current workforce.
“We are seeing a resilient, sustained recovery and notable symmetry in challenges faced by firms both North and […]

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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 Industry Federation Elects Dominic Doheny as New President

    Construction Industry Federation Elects Dominic Doheny as New President

New Construction Industry Federation (CIF) President Dominic Doheny called on the Government to work with the construction industry to deliver sustainable growth, exports and jobs across Ireland at a meeting of Ireland’s leading construction executives on Sunday.
“The Government is turning to construction to deliver ambitious targets in the delivery of world class infrastructure, housing and […]

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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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Nine Fatal Construction Accidents in 2016

    Nine Fatal Construction Accidents in 2016

There were 44 people killed in workplaces in 2016, representing a 21% reduction of the 56 reported in 2015, according to figures released by the Health and Safety Authority on Thursday.
Construction fatalities were down to nine in 2016, from 11 in 2015.
The number of deaths on farms remained high, with 21 reported in 2016, compared […]

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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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DART & Luas Map Illustrates Dublin Rental Prices

    DART & Luas Map Illustrates Dublin Rental Prices

A map of Luas and DART stops, published by Daft on Friday, highlights the most and least expensive areas to live in Dublin. According to the maps, commuters living on the LUAS green line in Dublin pay on average €1,553 a month in rent.
The average cost to rent a property close to a DART station […]

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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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25% of Homes That Qualify for the First-Time Buyers Scheme Located In Dublin

    25% of Homes That Qualify for the First-Time Buyers Scheme Located In Dublin

Research conducted by Daft.ie has found that 25% of available projects that qualify for the first-time buyers scheme are located in Dublin County. The research, published on Friday, November 25, found that the largest share of qualifying houses were in Dublin, followed by Kildare (14%), Meath (13%) and Cork (6%).
Daft.ie Public Relations and Communications Manager […]

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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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Growth of construction activity in July

Growth of construction activity picked up to four-month high in July according to the Ulster Bank Construction PMI survey.
Simon Barry, Chief Economist Republic of Ireland at Ulster Bank, noted that: “The latest results of the Ulster Bank Construction PMI survey show another sharp increase in Irish construction, with the pace of expansion accelerating to a four-month high […]

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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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