Downward trend in home building

It is expected that the number of new-build homes completed in Europe will have gone up by around 50 000 to something over 2.2 mio residential units in the year 2004. The Euroconstruct Institute expects a further slight increase for the current year, followed by a decline in the number of units completed down to the 2003 level again (around 2.15 mio residential units) by 2007. The cause of this decline is the downward trend in building individual homes that is again becoming evident in 2005.