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10/06/2010
Falling Number Of Homes Constucted
Fewer than 10,000 homes could be built in Ireland this year, according to a new report.
Figures released by the Construction Industry Federation (CIF) show that to 4,925 new Irish homes have been completed in the first four months of the year – a sharp decline from the 10,041 built during the same period in 2009.
According to the CIF, if this rate continues then the number of homes built this year and in 2011 will not exceed 10,000.
This figure would place Ireland at the bottom of the European residential construction table.
A spokesman for the CIF said that the Economic and Social Research Institute (ESRI) estimates that the Republic needs to build around 40,000 new homes every year to meet the demands of its growing population.
Just 1,706 new homes were started during the first four months of 2010 – a 30% drop from the 2,455 commenced in the same period last year.
So-called "one-off" houses accounted for the bulk of new homes during the period. Of the 1,706 homes that were started, 1,464 were single unit or one-off. Of those completed, 2,557 were single unit, 1,743 were in developments and 625 were apartments.
At the industry's peak in 2006, 90,000 new homes were built in Ireland.
(NS/BMcC)
Figures released by the Construction Industry Federation (CIF) show that to 4,925 new Irish homes have been completed in the first four months of the year – a sharp decline from the 10,041 built during the same period in 2009.
According to the CIF, if this rate continues then the number of homes built this year and in 2011 will not exceed 10,000.
This figure would place Ireland at the bottom of the European residential construction table.
A spokesman for the CIF said that the Economic and Social Research Institute (ESRI) estimates that the Republic needs to build around 40,000 new homes every year to meet the demands of its growing population.
Just 1,706 new homes were started during the first four months of 2010 – a 30% drop from the 2,455 commenced in the same period last year.
So-called "one-off" houses accounted for the bulk of new homes during the period. Of the 1,706 homes that were started, 1,464 were single unit or one-off. Of those completed, 2,557 were single unit, 1,743 were in developments and 625 were apartments.
At the industry's peak in 2006, 90,000 new homes were built in Ireland.
(NS/BMcC)
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