independent

Friday 18 April 2014

Builders get biggest boost since 2006

A crane towers above a new block of residential apartments under construction at Lower Gardiner Street in Dublin, Ireland, on Saturday, March 16, 2013. Irelands renewed competiveness makes it a beacon for the U.S. companies such as EBay, Google Inc. and Facebook Inc., which have expanded their operations in the country over the past two years. Photographer: Simon Dawson/Bloomberg
Construction has had a good year

THE construction industry is on course to record a first full calendar year of growth since 2006.

New figures show that in the first nine months of the year activity in the sector is up 15.5pc.

However, the Construction Industry Federation (CIF) says 2013 is likely to be the worst performing year on record for home building. Home building currently stands at around 7.5pc of what it was at the peak of the boom.

Building projects are mainly being undertaken for business purposes.

Figures from the Central Statistics Office show that having started at a very low base, the construction industry will mark a fifth successive quarter of growth.

Activity jumped by 1.9pc between July and September.

There was further good news for builders with the Production in Construction and Building Index (PCBI) showing that the monetary value of construction increased by 17.4pc in the year to Q3.

However, the PCBI also shows a fall of 7.4pc in new home construction in the same period.

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