New home builds still plummeting
Published 07/07/2011 | 05:00
LESS than 4,500 new homes have been built so far this year -- a 25pc drop on the first five months of last year.
New figures from the Department of the Environment show that the rate of house building continues to plummet at the same time as experts warn that house prices are continuing to fall.
The figures show that 4,443 homes were completed between January and May -- a 27pc drop from the 6,112 built in the same period last year.
Earlier this week, two separate reports showed asking prices were now 47pc lower than the 2007 peak.