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.
