…but commencements fall….
In the latest edition of the Link2Plans National Housing Construction Index (NHCI) a 9% rise in new residential planning applications during the first 3 months of 2015 has been highlighted versus Quarter 1 2014 figures. While this is good news in the medium to longer term for the Irish Construction sector the Link2Plans analysis highlights a short-term fall in residential construction projects commencements.
Overall applications for new residential construction projects increased year-on-year across 18 counties but saw a 4 percent fall in Co. Dublin further illustrating the shortage in housing supply across the capital.
Link2Plans Managing Director, Danny O’Shea, pointed to the impact of the introduction of new building regulations in April 2014 as a significant factor in the rush to lodge construction projects commencements early in 2014 and the the consequent knock-on effect of this in the first quarter of 2015 and pointed to the 3% rise when quarter 1 2015 is compared with quarter 1 2015 as a more accurate reflection of increased activity in the residential construction projects sector.
Danny O’Shea is CEO of L2P Group which comprises Residential and Commercial Construction Projects research firms Link2Plans and Building Information Ireland.
Visit Link2Plans to download the latest edition of the National Housing Construction Index and to avail of a 10 day free trial to information on all commercial construction projects data visit Building Information Ireland.