New consumer research by Mintel Ireland published in the Irish News this morning has noted that the construction industry in Northern Ireland experienced a 10% growth last year and is now valued at £3.5 billion.
Other key findings include:
- Expenditure in public sector housing increased from £87.4 million in 200 to £134 million in 2007
- It is expected that £18 billion will be spent on a range of infrastructure projects over the next 10 years
- Need for further relaxation in the planning process to stimulate future market growth
John Armstrong from the Construction Employers Federation has welcomed the findings as ‘positive’. He added, ‘while the delivery of social and affordable housing is a priority issue for the new executive there is a distinct danger that if policies for their delivery are introduced without appropriate consultation or time to allow the industry to factor in the additional costs then the house builders will simply stop building’.