According to the latest Building Information Index, the value of construction projects started in the first three months of 2015 has fallen by -20% when compared to the same period in 2014.

The report provides a quarterly breakdown of the Irish construction industry by sector, region as well as funding source. The index shows a fall of €333 million as the value of actual construction activity fell from €1.692 billion in the first quarter of 2014 to €1.359 billion in the same period in 2015.
 
Managing Director of Building Information Ireland, Danny O’Shea said, "The value of actual construction activity for the first three months of 2015 fell by €333m from €1.692 billion in the first quarter of 2014 to €1.359 billion in the same period in 2015. Out of the 7 sectors for which the Building Information Index provides data, 5 of these sectors recorded a fall.

The Residential sector saw the most significant drop, falling by €174m from €874m in the first quarter of 2014 to €600m in the first quarter of 2015. Education also suffered a major decrease, falling by -68%. By comparison, there was a significant increase of +54% in the value of Industrial construction projects started in the first three months of 2015, rising from €100m in the first three months of 2014 to €154m in 2015."

He added, "The good news for the construction industry is that despite the drop recorded in the value of construction activity in the first quarter of 2015, overall, the data in the Building Information Index shows that the construction sector in Ireland is in recovery.

The value of construction projects in terms of Applications are up +42% for the first three months of 2015 when compared to the same period in 2014. The increase in value of construction projects applying for planning permission has been driven by the rise in the Residential and Commercial & Retail sectors which recorded increases of +91% and +59% respectively."

Source: www.businessworld.ie