The National Housing Construction Index compiled and issued by Link2Plans shows Westmeath is continuing to experience a recovery in the residential construction sector with the number of project commencements and planning applications both increasing in the first eight months of 2014. When compared to the same period in 2013, project commencements in Westmeath are up 63 per cent, while the number of new planning applications are up 10 per cent.
Nationally, growth in the residential construction sector also remained strong. When viewed on a nationwide basis, compared to the same period in 2013, project commencements were up 40 per cent while the number of new planning applications were up 12 per cent.
The data contained in the National Housing Construction Index is aggregated by consultancy Link2Plans from real time planning and project information in every local authority area.
Strong gains for project commencements
The recovery in the Irish residential construction sector continues to gather momentum, with planning applications and project commencements both recording significant gains in the first eight months of 2014. Project commencements in Westmeath increased from 38 in January to August 2013, to 62 for the same period in 2014, which represented an increase of 63 per cent and the third largest increase in the country.
According to Danny O’Shea managing director of Link2Plans, “The 63 per cent year on year increase in project commencements for Westmeath is an extremely strong result and is good news for the residential construction sector.”
Planning applications continue to rise
Planning applications in Westmeath increased from 107 in January to August 2013, to 118 for the same period in 2014, which represented an increase of 10 per cent.
For the third consecutive edition of the National Housing Construction Index, the number of new planning applications across the country was up, with the first eight months of 2014 showing an increase of 12 per cent nationally when compared to the same period in 2013. Dublin was once again the best performing county with a year on year gain of 35 per cent.
Mr O’Shea said, “Nationally, sentiment in the residential construction sector remains very positive with the number of planning applications for the first eight months of the year increasing by 986 from 7,668 to 8,954, representing an increase of 12 per cent year on year. This positive sentiment is being felt across the country. Eighteen counties, including Westmeath recorded a rise in the number of planning applications when compared to the same period in 2013; the highest number of counties with an increase in planning applications since the start of the year.”
The National Housing Construction Index is produced by a team of researchers at Link2Plans and it relates to all planning applications and project commencements throughout the months of January to August 2014 and gives a direct comparison with the same period in 2011, 2012, and 2013.
Link2Plans have produced this index bi-monthly and it has been the most accurate barometer of real time sentiment (planning applications ) and actual residential construction activity (project commencements ) including residential developments (multi units ), one-off housing (self-build ), and one-off housing extensions.
