Page 9 - Demo

Following a trough in completions in 2019, private housing completions saw a rebound in 2020. 20,888 private housing units were completed in 2020, as compared to 14,093 units being completed in 2019. At the beginning of 2020, the Rating and Valuation Department (RVD) estimated that 20,850 units would be completed in 2020. The final number of completions of 20,888 has just met the forecast. In the past 10 years, private housing unit completions only met the RVD’s estimates four times. Given this track record, last year’s completion figure was a positive surprise for the market. Marc Fernandes/NurPhoto via Getty Images