Housing construction down 90%

BUILDERS will complete 10,000 housing units next year – a 90% drop from the 92,000 units building boom of 2006 – Goodbody stockbrokers reveal.

The Construction Industry Federation said yesterday their projections indicate that the value of output in construction across all sectors in 2010 will fall to €10 billion next year, down from an estimated spend of €12bn this year, and down from €19bn in 2009.

Goodbody analyst Deirdre Ryan, in a note to clients, said that house building has dropped precipitously over the past two years and continues to decline rapidly.