There's still time to catch up, says analyst.
According to Barclays, compared to the first 10M of 2012, housing completions are up 8% y/y.
Barclays said, "as completions are typically skewed towards the June and December, we believe there may still be time for completions to catch up to the government’s full year target of 13,551 units."
The number of construction starts on new flats rebounded from only 5 units in September to 2,085 units in October.
However, for the first 10 months in 2013, the construction starts fell 26% y/y to 9,400 units. Among those, 56% of units were located in New Territories. On the other hand, the housing completion for the first 10 months reached 7,365 units, which represented only 54% of the government’s annual target of 13,551 units and around 6,200 units behind the target.
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