Tough times for building workers as construction firms go out of business.
Over the past three months, 53 construction firms were placed in liquidation, receivership or examinership. That is an increase of 30 since the same period in 2007.
The construction industry is facing different and difficult times.
David Murphy is one of many construction workers who lost his job after the company he worked for went bust after Christmas. A construction worker for over 30 years he now says his time in the industry is up.
There's no work out there.
Over 40 per cent of all business failures in the first three months of this year were in the construction industry. Tom Parlon of the Construction Industry Federation (CIF) says that this is indicative of higher costs in the sector placing pressure on the industry.
Two separate reports from National Irish Banks (NIB) and Daft.ie published today both suggest that house prices continue to fall. The Daft.ie report says that prices have fallen by 1.3 per cent nationally in the first three months of the year. The NIB report indicates that house prices have almost bottomed out.
An RTÉ News reports on 8 April 2008. The reporter is Adrian Lydon.
