Fewer starts but more projects launched. Housing construction between May and July fell 5.5% from the previous three months (February to April), to a level that pushes the indicator back below its level pre-health crisis, according to figures released Tuesday by the government.

Between May and July, 95,900 housing units began to be built in France. This certainly represents an increase of 4.8% compared to the same period last year (from May to July 2020). But this comparison is hardly meaningful, since in 2020 France barely came out of the first containment, which had slowed down construction and blocked the authorization process.

Over 12 months (August 2020 to July 2021), the Ministry of Energy Transition, on which Housing depends, number 386,300 starts, an increase of 8.2 % compared to the previous 12 months (August 2019 to July 2020).

As for building permits, 125,400 future housing units were authorized over the period May-July 2021. This is an increase of 2.8% compared to three months before (February to April 2021) and a spectacular jump of 41.8% compared to the same period of 2020 (May to July 2020). But here again, the comparison must be put into perspective with the first confinement.

Over 12 months, the ministry recorded 445,100 authorizations, a figure up 10.8% compared to the previous 12 months (August 2019 to July 2020).

“However, these progressions are partly explained by the fact that the previous period of comparison (August 2019 to July 2020) includes the first confinement, where the authorizations have declined sharply and many construction sites have not been able to start because of sanitary constraints, ”underlines the ministry.

On the other hand, we note the spectacular increase in the number of pure individual dwellings, in other words single-family homes. Authorizations for new single-family homes have swelled 20.6% over the past 12 months, compared to the previous 12 months. As for housing starts, this increase rose to 11.2%.

If we add the grouped individual (in other words the houses which are part of a larger program, such as in subdivision), the authorizations in the individual (pure or grouped therefore) reached 199,100 dwellings over twelve months, a level which had not been seen since September 2013. Housing starts in the individual remain for the moment at the same level as before the crisis. But this should not last in the coming months, given the permits granted. With the desire for space and to move away from large metropolitan areas, the demand for new homes has become much stronger than before the pandemic.

It could also be due to houses which have become too expensive in the old one. In its latest barometer, SeLoger thus notes a general drop in house prices in France, as the solvent demand capable of acquiring the properties on offer is gradually being exhausted. In the old market. Some buyers may have preferred to realize their dream of a house by turning to the new home market.

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Ref: https://www.bfmtv.com