Two hundred and twenty two new houses were completed in Louth during the January to November period last year, according to the latest figures produced by the Construction Industry Federation (CIF). According to the latest CIF National Housing Statistics Bulletin this represented a drop of 6% or 15 houses compared to the same period in 2011 when a total of 237 houses were completed.
The drop in the rate of house building in Louth was below the national trend. Nationally there was a 20.4% drop in house building for the January to November period. 7,662 houses were completed up to the end of November 2012 but the year before had seen 9,630 houses finished. This marked a drop of 1,968 houses completions.
Speaking about the housing figures, CIF Director General Tom Parlon said, “These figures underline the difficulties that faced the construction sector in 2012. It was another difficult year for builders in Louth and throughout the country. Nationally 2012 was the worst year on record for the level of new housing units built.
“2011 had held the record for the lowest level of house completions when 10,480 units were built. That had been the lowest since records began in 1970. However we expect the final figure for 2012 to be considerably below that – somewhere in the region of 8,000 units in total.
“The residential property market is still recovering from the problems generated during the Celtic Tiger days. We still have an oversupply of housing in certain parts of the country. As long as that oversupply exists it will be difficult for new house building activity to be completed in these areas.