Positive sentiment in house building despite commencement drop of 51pc – index
The number of housing projects started in the first four months of 2015 have dropped by 51pc to 1,698 compared to the same period last year, while planning applications have gone up by 18pc to 4,602 nationally year on year, according to the National Housing Construction Index published by Linked2Plans.
Danny O’Shea, managing director of Link2Plans, said this continued a trend from the start of this year.
“Link2Plans considers the first half of 2014 to be very much an outlier in terms of construction activity on account of the structural changes in the market, which saw the introduction of new buildings regulations on 1st March 2014.
“These one off changes in the sector created a major injection in construction activity for that period. When compared to previous years’ such as 2013, we do see growth in the construction sector, with the first four months of 2015 showing an increase of 11pc when compared to the same period in 2013.
“When these figures are combined with the strong growth in planning applications, which have recorded increases for the past 18 months, the forecast for medium term remains positive.”