Private Housing

摘要

Indicators suggest that in recent months the impetus in the private housing market recovery has petered out Mortgage approvals have begun to contract and the number of housing units started on site has stalled. Considering that private housing starts fell to their lowest peacetime level since 1924 in 2009, starts in 2010 are expected to be stronger but levels will nevertheless remain significantly down on the pre-crisis level. An estimated increase of 35% will raise starts to 99,800 units in 2010. Thereafter; affordabilHy pressures will persist and significant reform to the planning system will constraint growth and starts are expected to rise by a modest 5% in both 2011 and 2012. Post-2012 double-digit growth is anticipated and by 2015 work is expected to commence on 160,100 new private homes.