Northern Ireland contractors say construction market is static
Political instability, government red tape and bureaucracy remain key issues for surveyed contractors in our latest Northern Ireland market intelligence survey.
Our survey results are mixed, with a majority of surveyed contractors viewing the market as static. Surveyed contractors are also indicating marginal improvements in their operating capacity but additional capability and appetites for opportunities remain high.
The commercial sector has been overtaken by housing and public works according to our survey results. In particular there is substantial potential for the private rental sector to become a significant new growth market in Northern Ireland. Unlocking the potential in this sector is covered in further detail in this survey.
Political instability remains the main key challenge. Skilled labour has slipped down the table and feedback suggests that, while this remains a longer term issue, it has been overtaken by more pressing problems such as lack of government and the overly competitive market.
As we close in on a resolution to Brexit, contractors are realising the potential implications they will face. These include tariffs for the shipment of materials and products, along with the added programming implications of placing orders on imported goods and the impact on people movement.
Download the report to read more about these challenges and see the full analysis and insight from the survey.