Sunday 19 November 2017

Property recovery threatened as building sector hit by shortfall in graduates

THERE has been a surge in the number of potential property buyers approved for a mortgage in February.
THERE has been a surge in the number of potential property buyers approved for a mortgage in February.
The property sector is already experiencing a shortfall in graduate supply

A SHORTAGE of qualified graduates and undergraduates in the property and construction sectors is threatening recovery in the sectors, the Society of Chartered Surveyors Ireland (SCSI) warned yesterday.

A new report entitled 'Employment Opportunities and Skills Requirements for Property and Construction Surveying 2014' claims that almost 1,110 new jobs will be created over the next four years, if the economy expands 2pc a year between now and 2018.

While the property sector is already experiencing a shortfall in graduate supply, the demand for quantity and building surveyors is increasing and there is likely to be a 25pc shortfall of qualified graduates due to very low CAO applications in recent years, the lobby group said following the publication of a report by Dublin Institute of Technology's Roisin Murphy and Stephen Walsh.

The report concludes that if the economy recovers faster than expected at around 3pc a year, 2,360 new opportunities could arise.

It says that 1,525 or 65pc of those new posts would not be filled by Irish graduates because they are not enrolling in university courses.

"The significant decline in CAO applications for property and construction surveying courses mirrored the fall in activity in the industry," said SCSI boss Ciara Murphy.

"However, as activity levels have improved in the property market, particularly in urban areas and with construction output expected to grow by 30pc over the coming four years, the lack of new graduates entering the profession is a major concern for employers".

Irish Independent

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