Construction Output will exceed €15 billion by 2016
The Society of Chartered Surveyors Ireland has predicted that the construction sector will continue to grow strongly. The SCSI expects output to grow by 26% and exceed €15 billion by 2016.
The estimates are contained in the newly released report "Irish Construction Prospects to 2016" which was jointly prepared by DKM Economic Consultants. The report highlights the expected growth in housebuilding, which should see an increase to 14,000 unit completions by 2016, but emphasises that this level is still insufficient to meet long-term housing demand in Ireland. Concern is also expressed about the shortage of skilled people entering the sector, particularly graduates of engineering courses, specialist contractors and tradespeople, once again emphasising the current shortage of graduate civil engineers. Andrew Nugent, incoming SCSI president commented "While we were pleased to see a 27% increase in CAO applications for built environment courses, it will take several years for this to feed through to the sector."