Slowdown fears grow as house building falls 43pc

From the article

It said that while the ability and willingness of builders to cut supply rapidly was good news for the Irish economy, a significant amount of unsold stock needed to be sold. It estimated that there is 10 months’ supply of unsold stock in the market.

10 months supply on the market? I know what the Daftwatch numbers is but does anyone know what the average number of housing transactions per year in Ireland used to be.

Oh…he also forgot to mention that in addition to those properties on the market we also have a few years supply lying vacant.

Could someone tell me where these ‘analysts’ got their economics degrees because the place should be closed down. There is no mystery with calculating completions you get an accurate picture by looking at starts data 9-12 months previously. By the end of year the monthly completion will be 70% down yoy. Q2 and Q3 will be 55-60% down. It ain’t rocket science.

Whilst I expect completions to slow down further as the year goes on, to be fair anyone who would revise their predictions based on March’s figures doesn’t have a clue about the building industry. With Easter falling so early this year most sites were closed down for 2 full weeks during the month when normally this would have occoured either in April or have straddled the two months. Throw in Paddy’s day and I’m surprised that there were any completions in March! :laughing:

That figure would annualise to almost 50k if the similar completion rates were achieved for the rest of 2008.

Our next door neighbours in the UK are building about 170k this year for a population of 60 milllion.

That would translate into about 11,000 annual for Ireland :open_mouth:

Remember that we are special as we all need two houses.

but but but…Ireland is different! :slight_smile:

That was the first thing I checked as well. 48600 units is still too many for Ireland.

We publish an estimate of the number of months supply at IPW based on the number removed from Daft and the current number of listings

Jaysus, another 50K this year? What does that bring the surplus supply to, about 380,000 units? :open_mouth:

A full decade of surplus supply! :open_mouth: :open_mouth:

Man the lifeboats!

dons wife’s dress

Women and children first!

ah here now…

Don’t forget to barricade all the proles in steerage before leaving in a half empty lifeboat !

My god cross-dressing on the pin :open_mouth: who would have thought :confused:

The Equality Authority have outlawed that. It’s every man, woman, and child for themselves.*
*except for travellers who can sue you if they do not get the first seats.