Ireland output summary
The all building and construction volume index in the Republic of Ireland decreased by -3.4 percent on the quarter and decreased by -2.1 percent on the year as of Q2 2023, reflecting a cooling in new project starts.
The residential sector saw the biggest drop, with a -10.3 percent reduction in the year, but has since stabilised and is likely to see an increase in the latter part of the year.
Contractors’ expectations of housing being the top performing sector are understood, with housing a top focus for the Government, and the level of funding made available for student housing, affordable housing, social housing and cost rental.
Non-residential construction saw a dip of -3.9 percent, on the quarter, reflecting the cooling in projects starts some non-residential sectors, including the commercial office and occupier markets. The office market remains in a state of flux as the large tech-driven office uptake of the past few years has all but gone, replaced by financial and professional services, but in many cases on a somewhat smaller scale.
Civil engineering has seen increases of 22.5 percent on the year and 5.8 percent on the quarter, showing a strong performance to Q2 2023. This can be attributed to a number of large infrastructure projects including ports, transport and roads, as well as projects associated with major data centres and life sciences.
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