Q3 2017 Construction Market Review Released By CIS
Nick Fitzgerald | On 17, Nov 2017
Construction Information Services (CIS) have announced the publication of their Q3 2017 Construction Market Review.
The report is an analysis of activity in the construction sector for the first 9 months of 2017 and a comparative analysis against the corresponding period in 2016.
It also provides an insight into the overall planning pipeline for the remainder of the year and beyond on a sector by sector basis and a regional analysis of the Republic of Ireland.
A key finding was the volume of projects On-site in the first 9 months of 2017 has fallen by 5% or 116 projects when compared to the same period in 2016.
The value of projects On-Site is down 20% to €4.7 billion.
4,155 projects were granted planning in the first 9 months of 2017, a number which is down by 23% for the same period in 2016.
The volume of projects submitted for planning has increased slightly by 4% to over 5,220.
This increase of 200 projects equates to an increase of project values of over €400 million.
Discluding Connacht and Munster, all other regions have shown a surge in the volume of projects in comparison to the same period in 2016.
All sectors have experienced a decrease in the value of projects granted planning with the exception of Hotel & Catering which is up 17% and Residential which is up 27%.
The greatest drops have been in the Medical, Commercial and Community & Sport sectors.
Overall activity in the sector remains strong and is set to continue, having built up momentum during 2015 and 2016 across all sectors.
Research demonstrates when a comparison is done on a year-on-year basis, activity has plateaued in volume terms at On-site and Plans Granted stages, while the scale and type of these projects has led to an overall decrease in project values.