40% of 2004 new houses vacant

MORE than 30,000 of the 77,000 new houses built in 2004 are vacant, according to a stockbroker.

This is close to 40% of the houses built last year and it suggests a sharp reduction in building levels is on the cards in the years ahead.

Davy Stockbrokers said vacancy levels had risen sharply by international standards in the past few years.