Building Permits for New Housing Units in Austria. Forecast for 2013-14 (Part No. 1)

Housing permits are an important indicator for total housing construction. In order to better estimate future housing production, the number of building permits for single and multi-family housing units as well as the total are forecast using econometric models. Important drivers are demographics, the macroeconomy and housing policy. Housing permits significantly increased in 2011 (44,300 units) and dropped noticeably in 2012 (38,700 units). Taking into account the most recent data revisions and the policy environment, WIFO anticipates a rise of permits to 43,400 units in 2013. In 2014, the level of permits will be similar to 2013.