Abbey looks to buy development sites as its British and Irish house sales rise

IRISH house-building group, Abbey has offered a rare glimpse of positivity from the property sector by saying it is looking to buy new development sites in both Ireland and Britain.

Addressing shareholders at its annual general meeting in Dublin yesterday, Abbey’s executive chairman Charles Gallagher said that trading in the first few months of the group’s current financial year – which runs to the end of April – “has been steady” and added that its excess housing stock is now gradually being cleared.

“In southern England, good levels of business have been achieved in recent weeks.