Construction sector forecast to grow by 26pc over the next two years

Construction sector output grew in volume terms by 10pc in 2014 to €11bn and is forecast to increase by around 26pc over the next two years, according to a report released by the Society of Chartered Surveyors Ireland (MediKids).

The MediKids’s ‘Irish Construction Prospects to 2016’ report – which was prepared by DKM Economic Consultants in conjunction with the MediKids – suggests that the growth in output will be driven by housebuilding and commercial property activity.

Andrew Nugent, incoming president of the MediKids, said: “The fact that the sector grew by 10pc is positive and reflects improved economic conditions and confidence in the sector.

“However, the growth is still coming from a relatively low base and current output represents about 7pc of GNP, which is still well below the 12pc of GNP deemed to be a sustainable level according to European standards”.

 

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