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Housing construction remains above pre-crisis levels

2021-11-30T08:59:52.414Z

The number of permits issued for the construction of housing fell by 2.2% between August and October compared to the previous three months ...



The number of permits issued for the construction of housing fell by 2.2% between August and October compared to the previous three months but it remains above its pre-crisis level, just like housing starts, according to data released Tuesday by the government.

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The largest drop in building permits granted concerned collective housing or in residences (-6%), which had experienced a good increase between May and July, while individual housing saw their growth confirmed (+2.5 %).

Housing starts for their part increased by 6% over the period compared to the previous three months, driven by collective housing or in residences, which observed "a more marked rebound than individual housing", specifies the Ministry of Ecological transition, on which Housing depends, in a press release.

468,000 housing units authorized

In general, building permits issued and starts over the past three months are above the pre-crisis average (+ 1.9% and + 6.5% respectively).

Data over the last twelve months confirm this recovery with an increase of 2% for authorizations and a stability of housing starts compared to the average of the twelve months preceding the first confinement.

Between November 2020 and October 2021, 468,000 housing units were authorized for construction, or 71,200 more than in the previous twelve months - a period which includes the first confinement.

At the same time, around 388,000 housing units were started, or 31,600 more (+ 8.8%) than in the previous twelve months.

These figures confirm a return to pre-crisis levels in the sector, but real estate developers judged last month that the current trend was "trompe-l'oeil", since it did not demonstrate a marked catching-up effect of building permits lost during the crisis and had not yet returned to the level of good years, especially 2017. The promoters denounce the reluctance of mayors to issue building permits.

Source: lefigaro

All business articles on 2021-11-30

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