80,000 new homes will be completed in Ireland this year, according to the Davis Langdon PKS Annual Review of the Construction Industry published today.
The figure is a similar number to the level of completions achieved in 2005.
Norman Craig, Managing Director of DLPKS, one of Ireland's leading construction cost management firms, said residential construction output represented 64% of the total volume of construction output in Ireland in 2005.
Commenting on the review, he said that the company expects the volume of new construction to grow by a further 1% in 2006.
He explained: 'The phenomenon that is the Irish construction industry continues its remarkable journey, with the industry set to record its 13th successive year of growth in 2006.'
'For the twelfth year in succession the industry has recorded significant growth, standing at 4.5% in 2005. Driven by the completion of a further record of 87,000 new houses, the construction industry is now the most important element of Irish economic growth.'
The industry directly employs 250,000 people, 13% of the total workforce.
The output of the construction industry as a whole accounts for 14% of Gross Domestic Product.
