Daft Property - Irish Property News

New-house completions at lowest since 1970s... HOUSE completions are to fall to their lowest level since records began in the 1970s. The number of new homes expected to be finished next year will be 10,000, whereas even during the recession-hit 1980s the lowest number of completions was 15,654 in 1988. A gloomy economic forecast from the Department of the Environment says it will be another two years before we see a return to economic growth. And it says that the estimated 150,000 unsold homes currently on the market will discourage new building activity for the next four years. The Construction Industry Outlook 2009-2011, conducted by DKM Economic Consultants for the department, finds that the current downturn in the industry is the most severe on record and that the number employed in the industry could fall to just 138,000 by the end of the year. This is half the number employed in 2006 at the height of the boom when 267,000 people worked in construction. New figures from the Depart...