Archive for February 2024

Labour and raw material costs continue to drive pricing higher in the construction sector, new research has found. The Construction Industry Federation Construction Outlook Survey for the first quarter of the year found two thirds of respondents saw labour costs rise year on year and 60% saw raw materials increase. More than half of the…

Construction activity contracted for the seventh consecutive month in January, but by the smallest amount since October. Housing activity, while reducing further, slowed by the least extent since September, the BNP Paribas Real Estate Ireland Construction Purchasing Managers Index found. “The relative outperformance of residential reflects the strength of the new homes market where consumers…

Chartered Accountants Ireland has outlined a plan aimed at improving childcare policy for the benefit of both providers and parents. The institute has proposed a series of steps which it said could leave working parents up to €4,500 a year better off and free up vital working capacity in the economy. Its paper ‘Supporting Working…

Oil prices slipped today as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 82 cents, or about 1%, at $81.37 a barrel, while US West Texas Intermediate crude futures slipped 74 cents,…

Advertising spend is predicted to grow by 4.1% this year, according to marketing advisory firm Core. That marks a slightly slower pace of growth than the 4.6% seen in 2023, however it would bring the total amount spent here to €1.534 billion. The majority of that money – 64% – is going towards digital channels,…

The Irish Congress of Trade Unions (ICTU) is recommending that unions in the private sector should seek to secure pay increases in the range of 4% to 6% in 2024, where affordable. The Private Sector Committee of the ICTU said its pay bargaining guidance was based on an analysis of the prevailing conditions in the…

A report today shows that more than one third of electricity used in Ireland last month was generated by wind power. The latest figures, published by Wind Energy Ireland, show that the amount of electricity produced by wind farms was one of the highest ever recorded for the month of January. Last year was was…

The volume and value of personal loan draw downs reached a new high between July and September last year, new data shows. The figures from Banking and Payments Federation Ireland reveal that 53,404 personal loans were drawn down during the three month period, valued at €552 million. This is the highest volume and value recorded…

The over supply of office space in Dublin could continue until the end of 2026 or start of 2027, new research suggests. The study by BNP Paribas Real Estate Ireland finds a delay in completing buildings last year has now spilled into this year. This has led to excess supply in the market which is…

Rents in new tenancies went up faster than in existing tenancies, according to new figures from the Residential Tenancies Board (RTB) for July to September last year. National average rents for new tenancies were €1,598 per month, up 11% on the previous year, while existing tenancies rose 5.2% to a national average of €1,357. Breaking…