Housing targets may be missed despite rise in commencements

Residential construction has largely been supported by Government efforts as policymakers scramble to make progress in addressing the chronic shortage of supply

Firms continued to hire more staff to respond to higher workloads, but the pace of job creation slowed compared to previous months. File Picture: Eamonn Farrell/ © Rollingnews.ie

Government housing targets are likely to be missed despite a solid rise in housebuilding activity, an industry survey has suggested.

BNP Paribas Real Estate Ireland's Purchasing Managers Index for the construction industry showed housebuilding activity increased for the fifth consecutive month in July, and at a pace that was the fastest since April, marking the first time this has happened in over two years.