Page 12 - MB99
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                                                                                        NEWS














       Looking at 2022













































       Construction following the pandemic   The residential sector was the hardest   Residential
       has been slow to recover and         hit, with activity dropping 60.9%,   Residential construction has seen the
       posed a significant concern to       followed by considerable drops of    most spotlight throughout 2021 and
       industries depending on continuously   19.5% in non-residential and 33.6% in   will continue to be for the foreseeable
       postponed developments. According    civil engineering activity. Construction   future. Movement on Build to
       to the Central Statistics Office,    output fell by 21.0% on a quarterly   Rent (BTR) projects has increased
       both volume and value building       basis, dropping from a 5.2% increase   considerably now compared when
       construction output in 2020 were     in the fourth quarter. (CSO)         to when we were in the height of
       down year over year – by 5.2% and    In the third quarter of 2021, Ireland’s   lockdowns over the past year. The
       4%, respectively – marking the first   construction output fell 1.4% year on   current desire to increase residential
       annual fall in final output since 2012.   year, following an upwardly revised   construction and affordability has
       With this, the construction industry   28.4% increase in the preceding three   driven the current BTR schemes, a
       entered 2021, under immediate        months. Construction activity has    highly desirable and community-
       pressure and uncertainty faced with   also remained modest compared       building endeavour. Currently, these
       strict lockdown procedures brought in   to pre-pandemic levels. Non-      projects consist of 30k+ apartment
       to combat Covid-19.                  residential construction fell 6.5%   beds, which are spread across 1/2/3
       The first quarter of 2021 reflected   compared to 23.7% in Q2, while      bed apartments. It also includes
       the magnitude of setbacks in the     residential construction rose 7.7% and   1,800+ student beds which in itself
       construction industry as output fell   civil engineering works rose 20.6%.   lends itself to the issue of education
       27.3% from a year earlier, following   Construction output increased by 7.5%   accommodation particularly in Dublin.
       a downwardly corrected 6.0% drop     on a quarterly basis, following a 9.9%   As of 15th March 2021, House
       in the previous three-month period.   increase the previous quarter.      rebuilding costs increased by an

       12  modern  builder - issue 99                                                         www.modernbuilder.co.uk
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