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Monday, March 22, 1971
Domestic Accommodation
While the number of domestic units completed during 1970 at
11,140 was a big improvement on the previous year, it was well below the
average of 18,823 units per annum over the five year period 1965 to 1969.
Prospects over the next two years in the private sector are more encouraging
with 14,416 units estimated for 1971 and some 24,000 in 1972 which should
put completions back near the level achieved in the peak building years of
the mid-sixties.
Mainly as a result of troubles with contractors, completions in
1970 in the public sector at 13,425 units were well below published programe,
but again a much improved supply is forecast for 1971 and 1972. Overall
supply in 1970 in the public and private sectors amounted to 24,565 units
against an average of 43,711 units per annum for the five year period 1965
to 1969. For 1971 and 1972 overall supply is estimated to reach 50,537
and 50,974 units respectively. With completions in 1971 and 1972 estimated
at more than twice the 1970 output it is expected that demand and supply
will again be reaching equilibrium by the end of 1972.
In the private sector, Mr. Cooke says domestic vacancies at 3,453
exceeded the number vacant in the previous January by some 42%. Domestic
units vacant in recent years have been:
March 1966
19,224
January 1967
16,899
January 1968
14,935
January 1969
7,559
January 1970
2,439
January 1971
3,453
/The