Consultants forecast 76,000 new houses

A RECORD 76,000 houses will be built this year, according to leading construction industry consultants Davis Langdon PKS (DLPKS).

They said the supply of housing, which was just under 70,000 in 2003, will increase again to meet the continued demands of first time buyers. It estimates that construction output will rise by 3.5% this year compared to an earlier forecast of 1% growth.

Michael Webb, Managing Partner of Davis Langdon PKS, said that the total number of new housing units will peak in the second half of 2004 and decline next year.