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Budget 2011: Residential housing developments tumble 41pc as pressure grows

Development activity is being hampered by doubts about the economy and Government spending cuts in the 2011 Budget, according to construction research house Glenigan.

Housing projects were expected to pick up as the recession eased, but Glenigan said the December weather and pessimism over the market's health have led to the value of new private housing starts falling 42pc over the last three months compared to a year ago.

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