Building prices may have hit bottom
Figures from the Society of Chartered Surveyors Ireland indicate that building costs have bottomed out and even increased slightly in the second half of 2011. The SCSI Tender Price Index, shows that building construction prices stabilised in the first half of 2011 and increased by 2% in the second half of the year.
Ulster Bank's chief economist Simon Barry commented that - "It would be wrong to characterise the construction outlook as positive but it looks as if 2012 could be the year where some resemblance of stability takes hold after the slump experienced over 2007-2011".
Source: RTE News 21 Feb 2012 http://www.rte.ie/news/2012/0221/construction-business.html