According to most estimates, the Republic needs at least 35,000 new homes a year to cater for its population’s needs. Official figures calculate that the total hit 29,851 last year, but some have questioned this, saying it was closer to 23,000.
However, the index is showing signs of a turnaround for builders. Companies interviewed for the survey said new orders had risen for the third month in a row. They said they had responded by hiring new workers and stepping up the purchase of building materials, BNP said. John McCartney, the bank’s director and head of research, highlighted three trends from the first three months of the year.
Mr McCartney noted that order books had strengthened progressively over the opening three months of 2023. Increased hiring and materials purchases mirrored this.
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