House building expected to slow

HOUSE BUILDING activity has reached a peak and will slow down over the next two years, according to a new report from Davy Stockbrokers.

The broker said 2005 would mark a watershed in residential construction and would be the first year since 1992 when the number of new houses built would be lower than in the previous year.

“After an unprecedented period of growth, signs are that this year, there will be no year-on-year increase in the number of units built for the first time since 1992,” it said.