Irish housing registrations fell 48 per cent in May when compared with the same month in 2007, according to a briefing note from NCB Stockbrokers.
NCB said builders were reducing their number of projects due to the weakening property market.
In the five months through May, registrations declined 60 per cent from the year-earlier period, NCB said, based on calculations on data from Homebond, which registers new developments.
NCB analyst John Sheehan said builders were managing the supply of new properties in response to buyers' reluctance to commit to purchases.
