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Rising construction costs, slowing GDP growth, fewer new companies

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Houses under construction: construction costs continue to rise

Peter Flanagan's face
Peter Flanagan
Mon Oct 10 2022 - 06:33

Rising costs continue to hurt the construction industry, BNP Paribas Real Estate warn, even as the sector overall returned to growth last month. As Eoin Burke-Kennedy reports, BNP believe the concrete levy the Government announced in last month’s budget is likely to add to construction costs for new homes. The report comes as separate research shows surging demand for office space in Dublin despite economic headwinds.

Those economic headwinds have persuaded Davy Stockbrokers to cut how much it expands the economy to expand next year. Still, as Eoin writes, Davy see the strong export sector continuing to prop up GDP growth.

Startups may be seen as a key to economic growth in some quarters. If that’s the case then new data showing the number of new companies declined 16 per cent in the third quarter compared to a year ago. Still, a new report from Bibby Financial Services indicates business confidence among SMEs remains strong.

The National Asset Management Agency is in wind-down mode, so it’s notable to see the State bad bank offer its services to help alleviate the housing shortage. Ken Foxe has the details.

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Pilita Clark points out that gender equality in business and politics will mean women having the freedom to be as mediocre as any man.

Glenveagh Homes chief executive Stephen Garvey defends his company’s proposals to tweak planning laws to allow more new homes to be built.

Finally Asia Matters, a think tank, warns companies may see opportunities in the UK narrow amid the economic turmoil there. Instead, it says, they should look more to Asia.

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