Ireland had over 26,000 building completions during the first six months of 2008, more than half that of the previous year.

Figures released by GeoDirectory, the official building database, show there were 26,289 completions in the first half of this year.

The total number of commercial and residential buildings in the country now stands at 1,846,896.

Cork city and county experienced the largest increases in completions, with 2,893 residential and 135 commercial properties constructed during the period.

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Monaghan reflected the smallest number of completions with 299 residential and only 12 commercial properties finished in the first six months of 2008.

These latest statistics illustrate a 57% slump in completions since 2007, when 60,781 new properties were built.

GeoDirectory has predicted 40,000 completions for the entire year.

GeoDirectory's General Manager, Dara Keogh, said: "We recorded over 80,000 new additions in 2007 which was a record year and for the first six months of 2008, we added 26,289 buildings.

"GeoDirectory predicts that approximately 40,000 residential and commercial buildings will be completed across the country in 2008."

"The slow down in new additions is reflective of a more cautious approach by developers who seem to be meeting demand rather than anticipating future need," added the General Manager.

Jointly created by An Post and Ordnance Survey Ireland, GeoDirectory was setup to produce and manage Ireland's only complete database of commercial and residential buildings.

(PR/JM)