Growth of 7% for Irish building industry forecast

QUANTITY surveyors Patterson Kempster and Shortall (PKS) have revised their growth predictions for the Irish construction industry…

QUANTITY surveyors Patterson Kempster and Shortall (PKS) have revised their growth predictions for the Irish construction industry. At the beginning of the year, the company forecast a 4 per cent growth in volume, but they are now predicting a 7 per increase in volume, mainly because of exceptional growth during the first six months in the private. housing sector.

Private sector building (excluding housing) is likely to grow by 12 per cent by the end of the year, according to PKS, while public sector building is likely to experience an increase of 7 per cent. PKS said that in 1995, input prices rose by only 2 per cent, while tender levels for major projects increased by up to 18 per cent. In 1996, PKS expects input prices to rise by 3 per cent, while tender levels may increase by 7 to 10 per cent.