Housing

Material price hikes cause slowdown in housing schemes being built

A number of developments around the country are being shelved temporarily until the construction materials market settles down, according to senior sources in the building industry

Darragh O’Brien, Minister for Housing, Local Government and Heritage: housing targets could come under pressure with the slowdown in the number of new residential housing developments coming through the project pipeline. Picture: Colin Keegan, Collins Dublin

The unprecedented volatility in materials prices and the risks associated with fixed price contracts have led to a noticeable slowdown in the number of new residential housing developments coming through the project pipeline, the Business Post has learned.

Soaring prices for key construction materials such as steel, timber and concrete over the past six months have made it increasingly difficult for building firms to price tenders for projects, which has led to a number of ...