Housing commencements remain on an upward trend, according to BNP Paribas Real Estate Ireland, with continued increases in construction activity across key residential segments.
The construction activity index posted fractionally below the 50.0 no-change mark in May to signal broadly stable output in the sector midway through the second quarter.Despite the pause in growth seen for total construction activity, work on housing and commercial projects continued to increase in May. In both cases, activity rose for the third month running, but at softer rates than in April.
"The former is no surprise – even looking through disruption which may have been caused by the development contributions waiver deadline in April, housing commencements have been on a sustained upward trend since October 2022," he said. The construction index showed new orders continued to rise in May as firms again saw new business come in during the month.Sustained growth of employment was also recorded, with staffing levels up for the sixth month running in response to higher new orders. The rate of job creation eased, however, to the weakest in this sequence.
Meanwhile, companies signalled an improvement in supplier performance for the first time in ten months. Lead times on the delivery of inputs shortened modestly, but to the greatest extent since October 2010. Capacity improvements at suppliers were reportedly behind the shortening of delivery times.
Business Construction BNP Paribas Real Estate Ireland
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Michael McDowell: The biggest problem of the housing crisis is the Department of HousingSuccessive ministers in the department have failed utterly to appreciate this fact
Read more »
Housing: O’Brien against Housing Commission recommendation for body across all agenciesLeaked commission report recommends executive body to direct housing delivery, but Minister does not want ‘additional layers’
Read more »
Housing Commission report suggests underlying housing deficit of up to 256,000 homesHousing Commission calls for ‘radical strategic reset of housing policy’ and suggests there is underlying housing deficit of up to 256,000 homes.
Read more »
Ireland may need up to 62,000 new homes a year, Housing Commission indicatesUnpublished research shows State requires almost double current Government annual target for new builds
Read more »
Construction activity steady but housing still on upward curveLatest BNP Paribas Real Estate Ireland barometer indicates housing and commercial projects continued to increase in May
Read more »
Book of Kells exhibition revenue increases to more than €20mSome 900,000 visitors attended display of manuscript at Trinity College Dublin, up from 740,000 the previous year
Read more »