A new review of the construction industry has predicted up to 15,000 jobs could be lost this year.
In its annual DLPKS Review of the Irish Construction Industry, published this morning, quantity surveyors Davis Langdon PKS predicted there will be a 3 per cent drop in the level of new houses built over 2003.
When allied to a 11 per cent drop in public capital projects, this would result in a general slowdown in the industry in the next 12 months.
It also predicts a drop of 15 per cent in private investment in construction over the same period.
Over the past eight years, the review adds, construction in Ireland had enjoyed "exceptional" growth rates - about 20 per cent in some cases, but this year a fall of 8 per cent in volumes was expected to have a severe effect on the industry.
However, the price of houses is not expected to go down, largely as a result of the cost of land. The cost of building is dropping the report adds, but this represented less than half the price of a house and was unlikely to have any effect on the overall price.
The review also urged the Government to maintain its level of spending on construction projects under the National Development Plan.
Additional reporting PA