Republic of Ireland Market Intelligence Survey - Autumn 2018
This report is an informative insight to current local tendering conditions and a market outlook for the construction industry in the Republic of Ireland. The survey data within reflects issues that many projects have and may encounter and contains an optimistic market outlook, but highlights key challenges facing the construction industry.
The construction sector in the Republic of Ireland is currently experiencing increased levels of activity and overall the market looks with positivity towards the future. Results from our latest Republic of Ireland Market Intelligence Survey echo this sentiment with a majority (63.6%) of contractors we surveyed expecting the market to warm in the short to medium term.
Despite the positive outlook there are still challenges on the horizon. One of the most common supply chain challenges facing surveyed contractors in the Republic of Ireland is a shortage of skilled labour. Margins also appear very tight and are constantly being squeezed across the country.
Mark Kelly, Director, Strategic Lead Ireland commented:
This latest survey highlights the pressure being placed on the construction market in the Republic of Ireland, where a growing skills shortage and high demand for resources and labour is leading to major price inflation in the capital.
“Growth is being driven in particular by commercial construction as well as the residential sector – which is beginning to see major investment after a decade of inactivity.
“Against this backdrop of rising costs, contractors and clients need to look to new technologies and methods, as well as better use of data and programme management techniques to unlock savings.”
Background to this report
Turner & Townsend regularly interact with the supply chain in order to better understand the market dynamics which are fundamentally affecting construction price and cost movements in the Republic of Ireland. Every 6 months we collate survey responses from Irish contractors, allowing us to glean a snapshot of the local market place. This enables us to provide our clients with the most relevant and up to date market intelligence.
For the full analysis and insight, click here to download the full report:
If you would like to discuss this report or any of the topics covered, please contact Mark Kelly, or your usual Turner & Townsend key contact.