Data showing slow-up in house builds ‘not accurate’

Figures released yesterday by the Central Statistics Office (CSO) which indicated a decrease in the level of residential construction are probably not an accurate reflection of the housing market.

That’s the view of Davy Stockbrokers analyst, David McNamara who highlighted the CSO’s own warnings that the construction data could be volatile, given a recent update of the way the index is compiled as a result of significant industry changes in recent years.

Mr McNamara also said that the building and construction index carried a margin for error given that it’s a survey-based study, and said data previously released by the CSO, which showed house builds had increased this year, was likely a more accurate indicator of the sector.