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Number of new homes built falls to lowest level in over 40 years

Tags: ESRI,
Number of new homes built falls to lowest level in over 40 years

Number of new homes built falls to lowest level in over 40 years

Less than 8,500 homes were built last year, which is lower than any other year since records began in 1970, according to the Construction Industry Federation (CIF).

The ESRI has estimated that 15,000 to 20,000 new homes need to be built every year to meet future demand.

Most of the houses built in 2012 were one-off builds or the completion of unfinished estates. Dublin, Cork and Galway recorded the highest number of houses being finished.

The CIF has expressed concern about the impact of six years of decline for the future and has urged the banks to keep their promise to deliver more credit to help stimulate demand.

Tags: ESRI,