Analysts predict the negative effect of the pandemic may not be as bad as expected

3 D Specialist Contracting

Analysts expect 20,000 new houses to be completed in 2020, up from the 16,500 previously estimated.  5,500 homes were built in the third quarter, up from 3,290 in the second quarter and only a 3% drop on the same period last year.  Although house prices are predicted to fall by 5% by mid 2021, this suggests that the recovery will be stronger than previously anticipated.  There is a word of warning, however, as new house starts are down considerably on last year.

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