No what exactly is going on with new builds?

**Reduction in house building: report
**
*26 June 2006 12:15

One of Ireland’s leading construction cost management firms has reported a sizeable reduction in house building commencements over the last quarter of 2005 and the first quarter of 2006.

However, in its Summer 2006 Review of the Construction Industry, which was published today, Davis Langdon PKS said that the ‘building bonanza’ is continuing apace.

Norman Craig, Managing Director of DLPKS, said the total volume of construction output in Ireland on course to grow by 1% this year, as predicted by the firm in January.
Advertisement

He said: ‘In terms of housing, there was a 25% growth in completion of new homes in January, February and March. Compared to the same period of 2005, a total of 22,000 new homes were completed as against 17,500.’

However he warned: ‘Housing starts recorded in the last three months of 2005 and the first quarter of 2006 show significant reductions. Whether this represents a trend or an aberration remains to be seen.’*

rte.ie/news/2006/0626/houses.html

A confusing but worrisome singal to say the least.

House-building fall-off ‘may signal property peak’
26/06/2006 - 18:58:28

breakingnews.iol.ie/news/story.a … =y87y394zx
*
A reduction in the number of houses being built during a six-month period could herald the peak of the housing market, it was claimed today.

There have been significant reductions in the number of housing starts in the last three months of 2005 and the first quarter of 2006.

Norman Craig, managing director of Davis Langdon PKS Review, said: “Whether this represents a trend or an aberration remains to be seen.

“However, it must be pointed out that six months of sizeable reduction commencements cannot be ignored and may be seen by some as heralding the peak of the housing market.â€*