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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
