Warning of sharp slowdown in house building

There will be a sharp fall in housing completions over the next two years, with house prices also set to drop back, according to construction economist Jerome Casey.

19th May, 2007

There will be a sharp fall in housing completions over the next two years, with house prices also set to drop back, according to construction economist Jerome Casey.

Completions hit a record 93,000 plus last year, but Casey predicted they would drop to 80,000 this year and fall back to 62,000 per annum over the subsequent five years, 30 per cent below the peak level.

House prices will fall this year by up to 5 per cent and by...

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