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This week in the Examiner, Kieran McCarthy of KMC Homes looks at building and renovating your home in 2024.

Q. As we draw a line under 2023 and prepare for the year ahead, perhaps you could give us an overview of the key issues that exercised our readers last year, and what you expect will be the main challenges and opportunities householders might face when seeking to carry out home improvements in 2024?

A. In my view, the two main things that are affecting the Irish, and indeed global construction markets are inflation and interest rates. This time last year we were well in the cycle of rising interest rates and still rising inflation with no end in sight.

For me, the main difference this year is that it appears that interest rates are holding firm, for now, and there are some tentative signs that inflation too has stabilised. As no one can predict interest rates, let’s have a more detailed look at inflation.

In my experience, last year we were are still looking at material inflation up to last summer, though it was certainly tapering off at that stage. I generally speak to timber suppliers and builders merchants to get a sense of what the headline trends are in terms of material purchase prices. I am always conscious of giving a false sense of security early in the year, as the year before last we had some positive signs just before the outbreak of war in Ukraine — but as the year wore on, this trend towards price stabilisation continued. 

View full article in The Examiner here.

 

 

 

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