Private Housing

摘要

The last couple of months have seen a little optimism creeping in to the private housing market with a marginal increase in mortgage approvals in addition to Nationwide reporting a rise in house prices. However, both are still at historically low levels and with forecasts of economic activity still being revised down, and unemployment expected to rise above three million in 2010, there can be little respite for house builders. The Association anticipates that housing starts will fall to levels unseen in over 80 years and despite double-digit growth in housing starts every year afterwards, housing starts will not recover to 2007's levels until the middle of the next decade.