House-building outlook weak

THE outlook for any marked upturn in the number of house completions for next year hasn’t improved, with latest figures showing that April saw a 45% year-on-year decline in housing registrations.

New home registrations are down by 62% over the first four months of this year, compared with the same period last year.

“The April figures represent another weak month as builders scale back development plans in response to an environment where buyers continue to defer purchases in the hope of securing lower prices,” commented John Sheehan of NCB Stockbrokers.