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Construction slowdown for fourth month in a row

Home-building activity fell for the fourth month in a row in January as firms contend with a slowing economy.

The Government exceeded its house-building targets last year, but experts have cast doubt on whether it can complete the 29,000 it has pledged in its Housing for All plan this year. The Central Statistics Office data shows 29,851 new dwellings were completed last year, up 45.2pc on 2021. But completions fell slightly (2.8pc) between October and December last year, compared to the previous three months.

In December, there were 1,795 commencement notices registered, down from 2,402 in November and only slightly above December 2021 levels – a time when the economy was in a partial lockdown.

Nama last week cast doubt on its ability to deliver some of its promised new homes because of rising interest rates and infrastructure and planning challenges.

Sarah Collins from the Irish Times wrote a more in depth article on the matter which is available at Construction slowdown for fourth month in a row as ‘subdued market conditions’ blamed for home-building lull –