Construction Sector – House completions to fall.
It certainly does not seem to get any brighter for the Construction Sector. The latest report from Hook & MacDonald indicates that house building will fall further next year to almost 60% less than the 2006 record. This will mean a 38% to 48,000 completions this year.
I was speaking to a friend last week who indicated that his friend had negative equity on a house he bought 18 months previously. I read the papers and watch the news stories but this is when the demise of the sector really hit home. Ok there have been some positive announcement for the sector such as Arnotts but generally speaking it has been quite grim
Can infrastructure projects and commercial projects soften the blow for the construction sector?
I guess only time will tell.
Tags: Arnotts, Commercial Projects, Construction Sector, Hook & Macdonald, House Building, Infrastructure projects, Ireland, Irish Construction Sector, Jobs, Leinster, New Homes, Slow Down
February 20th, 2008 at 4:32 pm
[...] least one sector is rubbing its hands with the prospect of good news in 2008. The construction sector with hit with more bad news today with the number of new home completions to fall again this [...]