Jason Walsh
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Half of Irish building firms not working

Half of Ireland's construction companies have stopped building houses while they attempt to offload existing properties.

A report published today by Merrion Capital said that the current housing oversupply will take more than twelve months to clear up.

"The overall conclusion

from the survey is that house builders expect the downturn in the Irish new residential market to be deeper and more prolonged than they anticipated,'' Merrion told the Irish Times.

 

Last modified on Friday, 16 May 2008 15:54