Welcome to our Ireland Annual Review 2022 in which we take stock of the construction industry across the island of Ireland. This year, as always, the report includes dedicated industry spotlights for both Northern Ireland and the Republic of Ireland in which we review the past twelve months, and share our expectations for 2022. Each spotlight includes our estimated tender price increases for 2022 as well as our indicative building costs for the year.
2021 saw the rate of increase in material prices increase higher than at any other time in recent history with the cost of key materials like steel, timber and electrical fittings increasing significantly. Overall, we are hopeful about the year ahead, but we can’t ignore the fact that we are facing a number of significant challenges particularly in relation to the supply of labour which must be addressed to make sure we can meet demand.
2021 proved to be a surprising year in relation to the Northern Ireland Protocol and how pronounced the effects have already been on trading patterns with imports and exports within the island of Ireland increasing dramatically. The construction industry performed well but had to deal with profound structural changes brought about by the protocol as well as material and labour shortages also experienced in the Republic of Ireland, and we expect this to continue into 2022. Nevertheless, we predict a year of sustainable growth.
To view the report and our predicted tender price figures for 2022, simply complete the form. You can also find further insights on issues affecting the island of Ireland on Without Limits, our thought leadership platform.