Housing targets ‘likely to be missed’ this year

Number of dwellings under construction in Dublin in February was a fifth lower than 18 months ago, financial services firm BNP Paribas says

John McCartney, director of BNP Paribas, said that slowdown in home improvement activity was ‘probably due to continued uncertainty about the economy and construction costs.’ Picture: Getty

Housing output is likely to fall in 2024, with the government’s 33,450 delivery target at risk, according to financial services firm BNP Paribas.

According to the company’s latest construction purchasing managers’ index (PMI), overall construction activity in Ireland dropped in February.

The seasonally-adjusted PMI for total activity was 47.4 in February, up from 45.9 in January and below the 50 mark denoting contraction rather than growth from the month before.

Although continuing to signal falling ...