Irish housing registrations fell 45 per cent in April when compared with the same month in 2007, according to a briefing note from NCB Stockbrokers this morning.
NCB said builders were cutting back on projects in response to weakening property demand.
In the four months through April, registrations declined 62 per cent from the year-earlier period, NCB said, based on calculations on data from Homebond, which registers new developments.
"This represents another weak month as builders scale back developments plans in response to an environment where buyers continue to defer purchases in the hope of securing lower prices," said NCB analyst John Sheehan.