Slump in Scottish house building

The number of homes completed in Scotland has fallen 23 per cent in the final quarter of last year and 13 per cent for the whole of 2008. The number of new homes started in the fourth quarter of the year was 48 per cent down on the same quarter in 2007 and overall down 19 per cent from 2007 to 2008. However, there was a big increase in the number of houses for rent or low cost home ownership, with 29 per cent more homes built than in 2007, and the highest level in eight years.