Over €1.4bn worth of construction projects moved on-site in Q1 2017
Construction Information Services (CIS) have just published their Q1 2017 Construction Market Review which provides an analysis of activity in the construction sector for the first quarter of 2017 and a comparative analysis against the corresponding period in 2016.
Over €1.4 billion worth of projects moved on-site in Q1 2017
Value of projects on-site is down 30% compared to Q1 2016
1,200 projects granted planning in Q1 2017
Volume of projects at plans submitted stage remains relatively static
All Ireland ‘On-Site’ Construction Activity
The volume of major projects moving to on-site stage is relatively static at 584. However, the value of projects moving on site in Q1 2017 is down 30% to over €1.4 billion on Q1 2016 levels.
Much of this decrease in value can be attributed to the two major road schemes (totaling €675m) which started on-site in Q1 2016. If we delve deeper, we see that Residential is the largest sector for the period with 23% market share, followed by Commercial, Industrial and Hotel & Catering.
All regions have experienced a drop in the value of projects onsite with the exception of Connacht. Dublin has the largest share of the market at 37%, with Leinster at 26% and Munster at 20%
All Ireland ‘Plans Granted’ Construction Activity
The value of plans granted in Q1 2017 has fallen by 16% when compared to the same period last year. All sectors have experienced a drop in values with the exception of Civil & Utilities, and Hotel &Catering. Similarly all regions have experienced a drop off inactivity apart from Connacht which has shown a 77% increase in value, which is off a low base.
The volume of projects granted planning has also fallen with only 1,207 projects granted in the period, down from 1,449 in Q1 2016. Much of the reduction can be explained by Agricultural projects where only 313 projects were granted planning in Q1 2017, as compared with 561 in Q1 2016.
All Ireland ‘Plans Submitted’ Construction Activity
The number of projects submitted for planning has fallen slightly from Q1 2016 levels, from 1,692 to 1,682. The value of projects has also fallen by 29% in the period, with only Hotel &Catering, Industrial and Community & Sport showing positive growth. On a regional basis only Leinster and Connacht are in positive territory for the quarter.