June’s 61% drop in new homes built
As a row continued between those within the property sector and some more pessimistic forecasters, Davy Stockbrokers reported a record 61% fall in housing starts in June compared with the same month last year.
While a slowdown in housing supply has previously led to higher prices in a demand-led market, this time the building drop is being blamed on a fall in demand, fed by uncertainty along with eight interest rate hikes since late 2005.
