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23/04/2008
NI Builders Hardest Hit In UK
Northern Ireland builders are being hit much harder by the slowdown in the property market compared to their UK counterparts, the Federation of Master Builders (FMB) has said.
In a report published yesterday, the FMB revealed that NI builders are reporting a workload of 30% less than the UK average.
Furthermore, the FMB said the slowdown is having a knock-on effect for other trades, such as joiners, glaziers and plumbers.
The group, which represents small and medium sized construction firms, predicted the downturn in activity would last - at least - until the end of the year.
It said that builders are now reporting the lowest level of work since Spring 2006, with NI reporting the lowest levels out of all UK regions.
Maire Devlin, FMB Northern Ireland Director said the recent runaway house price increases, which led to more builders building new houses, meant that the effect of the credit crunch was being accelerated in the North.
(VB/JM)
In a report published yesterday, the FMB revealed that NI builders are reporting a workload of 30% less than the UK average.
Furthermore, the FMB said the slowdown is having a knock-on effect for other trades, such as joiners, glaziers and plumbers.
The group, which represents small and medium sized construction firms, predicted the downturn in activity would last - at least - until the end of the year.
It said that builders are now reporting the lowest level of work since Spring 2006, with NI reporting the lowest levels out of all UK regions.
Maire Devlin, FMB Northern Ireland Director said the recent runaway house price increases, which led to more builders building new houses, meant that the effect of the credit crunch was being accelerated in the North.
(VB/JM)
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