SCSI: Rising costs preventing more employment in construction

Employment levels in the construction industry are being hampered by ongoing high building costs, the Society of Chartered Surveyors Ireland said today.

The group has released new figures today showing that building costs have risen by 1% in the first half of the year.

"Essentially this would confirm that prices have stabilised over the past two years," said SCSI spokesperson Andrew Nugent.

"This levelling off - and it follows a massive collapse in prices since they peaked in 2006 and 2007, building prices have fallen by one third over the past five years - and this has had a very painful effect on builders, sub-contractors, suppliers and industry employment levels generally."