Builders started work on just 536 new homes in the Republic last month, the lowest number of registrations since records began in January 1996.
The number of new homes registered with industry guarantee bodies Homebond and Premier Guarantee in October was down 76 per cent on the number begun in October 2007, according to new data released today.
Planned new homes must to be registered with Homebond or Premier three weeks before construction starts. As such, the data provides a good indicator for residential building activity.