MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Housing completions set to hit record low this year
Uncategorized
Apr 5, 2012 - 14:16

Housing completions set to hit record low this year

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Housing completions set to hit record low this year

Housing completions are set to hit their lowest ever level this year.

That’s according to the Central Bank in its quarterly bulletin report.

The report found that construction now accounts for less than 6% of economic output – down from the peak of 15% in 2007.

The Central Bank said it expects house completions this year to fall to around 8,000 units – the lowest figure ever recorded.

Advertisement

It said the available evidence suggests that commercial property activity may have bottomed out, with little new work expected to commence on office and factory units.

With the foreign direct investments already announced, the Central Bank said the balance between supply and demand in the commercial property sector may begin to erode the overhang of empty properties.

It said the property tax changes announced in the budget are unlikely to result in new construction activity, but may help a return to activity in the medium term.

The bank also noted that credit conditions for consumer loans tightened, forcing consumers to save for longer before buying big ticket items. It said that high oil prices and budget measures such as carbon taxes increases and education costs will further erode real purchasing power this year.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • Budget
  • Central Bank
  • commercial property
  • construction
  • construction activity
  • consumer loans
  • economic output
  • factory units
  • foreign direct investments
  • housing completions
  • office units
  • quarterly bulletin
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement