The upheaval in the property market has led to quite a shakeout in the housing construction industry. Some of the more prominent builders will struggle to get on their feet again. But there is always someone to fill the void, and given its recent performance the company to watch out for is New Generation Homes, which is currently involved in a string of new developments in the greater Dublin area.

Brothers Greg (28) and Hugh (33) Kavanagh, from Arklow, quietly learned a thing or two about the construction business during the boom, and now, with the industry on its knees, the brothers have been buying up housing sites at knockdown prices.

After assembling quite a portfolio, a carefully phased development programme for the coming year will include about 500 houses at a variety of sites including Belmont in Stepaside (pictured); Knockcree in Carrickmines; Westmanstown Cottages in Lucan; The Boulders on Rochestown Avenue; and Dargan’s Way in Sutton.

The brothers seem to have got good value when they bought the Sutton site for €750,000. It has planning permission for 22 houses. They also picked up a fine 2.5 acre plot overlooking Howth harbour for €1.6m. The publicity-shy Kavanaghs obviously have good financial backers – and we don’t mean banks – but so far they are saying nothing.