7,500 units completed in 1H 2014

Reaching 43% of full-year 2014 forecast.

The Hong Kong Government has just released the Q2 2014 Statistics on Private Housing

Supply in Primary Market, which stated that 4,600 units were completed in Q2 2014.

According to a research report from Barclays, together with the 2,900 units completed in Q1 2014, this now brings 1H 2014 completions to 7,500 units.

The report noted that this is a significant increase against 1H 2013’s 1,500 units.

Relative to the Rating & Valuation Department’s full-year estimate of 17,610 units, the 7,500 units completed in 1H 2014 have reached 43%.

Here's more from Barclays:

New housing starts in Q2 were at 4,300 units. Together with the 8,000 units started in Q1 2014, this brings 1H 2014 housing starts to 12,300 units, up 54% y/y and representing 88% of 2013’s full-year housing starts of 14,000.

4,600 units were completed in Q2. Together with the 2,900 units completed in Q1, 1H 2014 completion has now reached 7,500 units.

This is equal to 90% of 2013’s total completion of 8,300 units and 43% of the government’s 2014 forecast completion of 17,610 units.

Overall private housing supply rose by another 1,000 units from 72,000 to 73,000 units.

Against Q2 total primary housing sales of 3,281 units, this implies 67 months of supply.