Irish housing output prospects brighten but growth could yet stall, warns BNP Paribas

The Government should not bet that the growth in housing output will persist, a survey suggests 

Activity in residential housing continues to draw much attention because the housing crisis is likely to be the top issue in the forthcoming general election campaign.

All three parts of the Irish construction industry contracted again in February, including housing where output, although improving, could still stall later this year, according to the leading monthly building survey. 

The BNP Paribas Real Estate survey, which canvasses the views of 150 building firms across housing, commercial construction such as office developments, as well as civil engineering, nonetheless found that the prospects for future growth had brightened on the prospects that the European Central Bank is preparing to cut official interest rates.