Property

Contraction in residential construction activity ticks up in October

Housebuilding was down 7.5 per cent month on month,bucking other positive trends in the sector

“Over 18,000 new dwellings are currently underway in Dublin alone, and 2024 should be another strong year for housing delivery,” BNP Paribas Real Estate said. Picture: Simon Dawson/Bloomberg

Activity in the Irish construction sector declined for the fourth month in a row last month, new analysis by BNP Paribas Real Estate has shown.

The research said the pace of the decline in monthly construction activity was “faster than that seen in September”, but was less pronounced than the contractions recorded during the summer months.

House building activity was down 7.5 per cent month on month, but commercial building activity returned to growth, rising ...