Construction is displaying tentative reasons for optimism as it begins to stage a recovery. Despite moderate growth at the overall level, sector data suggests this growth is not well balanced. In particular, although private housing is expected to make strong gains in the coming months, private housing RM&I is expected to fall significantly behind. Government efforts to boost private housing have not generated the growth in RM&I that might have been expected. Although in the past, transactions data has been highly indicative of activity in the private RM&I market, this correlation has lessened in recent times as policy has primarily boosted new housing, which doesn't require repairs, or need improvements, to the same extent as existing properties.
展开▼
