81% drop in new development since 2007

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    SPI News Feed

    Completion of new builds in the first quarter of 2013 is down 43.5% in year on year terms. The period saw the completion of 17,020 properties compared with 30,151 during the same 3 months in 2012.

    The year on year statistics for 2013’s first quarter also show that completion of developments by private developers is down 42.8% while those developed by the public sector have fallen 82.9%.

    The number of new properties coming onto the market has fallen for 5 consecutive years and since 2007 (when 641,419 new properties were completed) has registered a total fall of 81%.

    The number of completions of new developments
    continues its precipitous fall

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