Housebuilder Glenveagh sees building costs rise while labour shortages ease

Glenveagh Properties called for changes to the planning system to encourage the building of houses rather than apartments on suburban sites

Glenveagh Properties CEO Stephen Garvey (left), told reporters that the costs of materials rose less than some had expected.

The boss of housebuilder Glenveagh Properties said it has faced mixed news on accelerating inflation, as building material costs rise but once-acute labour shortages have eased considerably.                

Chief executive Stephen Garvey told reporters that the costs of materials rose less than some had expected, by up to 9% in the first six months of the year, but that he was still concerned about potential shortages of building products because manufacturers on the continent could cut back output under controls over gas consumption. Material costs were rising by 6% before the Ukraine war, he said.