New figures indicate the number of new homes started last year fell by almost 47% compared with last year.

The number of registrations with the house guarantee scheme Homebond last year was 27,619, down from 51,729 in 2006. For December, only 925 new homes were registered, down 60% on the same month a year earlier.

Goodbody economist Dermot O'Leary said the December number was the lowest monthly figure since records began in 1995.

The Homebond figures are seen as an indicator of future housing activity. Homebond is the biggest of two companies which provide registration figures, the other being Premier.