CSO | Construction output increased by 0.1% in Q3 2014

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Recent data issued by the Central Statics Office suggests recent media coverage and speculation of a construction boom may be premature. With only a 5.2% increase in residential output expect supply issues to continue to distort the market. Don’t break open the champagne yet. Extract off CSO site to follow. For direct link click here.

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CSO statistical release, 11 December 2014, 11am

Production in Building and Construction Index

cso1.pdf [Converted]

Building and Construction Output increased by 0.1% in 3rd quarter 2014

cso 2a

The volume of output in building and construction increased by 0.1% in the third quarter of 2014 when compared with the preceding period.

This reflects increases of 5.2% and 0.1% in residential building work and civil engineering respectively while there was a decrease of 1.0% in the volume of non-residential building*.  The change in the value of production for all building and construction was +1.3%. See tables 1(a), 1(c), 2(a), 2(b) and graph. 

On an annual basis, the volume of output in building and construction increased by 10.1% in the third quarter of 2014*.  There was an increase of 11.0% in the value of production in the same period. See table 1(a).  The annual rise in the volume of output reflects year-on-year increases of 19.1%, 13.4% and 2.5% respectively in residential building work, civil engineering and non-residential building work.   See tables 1(c), 2(a), 2(b) and graph.

*Given the unprecedented low base this series is starting from, the CSO will continue to monitor the quality and comparability of this new data series.

cso 3.pdf [Converted]

Other posts of interest:

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Ronan Lyons | Regulations pushing up the costs of homes

Sunday Business Post | Karl Deeter “Building regulations – rules don’t deliver results”

CSO- Dwelling units approved down 16.6% in one year

World Bank Report 2015 | Ireland’s poor construction regulations are the biggest drag on our ranking

Residential construction down in 2014 Q1+ Q2: (CSO statistics)

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