Page 72 - LH_Research_Report_2020_Eng

Notwithstanding unmet past shortfallotwithstanding unmet past shortfall
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(Table 4) Past shortfalls from LTHS targets

Number of housing units 2013 2014 2015 2016 2017 2018 2019 Total

LTHS annual average 47,000 48,000 46,000 46,000 46,000 45,000 43,000 321,000
supply target

Actual
completions [1] 22,300 25,700 26,500 29,000 31,500 45,200 32,600 212,800

Shortfall 24,700 22,300 19,500 17,000 14,500 -200 10,400 108,200

Note: [1] Public housing completions are based on financial year; while private housing completions are based on calendar year.
Sources: LTHS Annual Progress Reports, Hong Kong Housing Authority, and Rating and Valuation Department

As we also recall that the LTHS neglects past shortfall in rolling over its ten-year supply target, the new target will
not make up for housing failed to be delivered in the preceding years.

As pointed out in our 2018 report Lacunae in Land Planning: Undersized, Undersupplied and Underestimated, the accumulated
shortfall of housing supply from 2013 to 2017 already totalled to 94,300 units.

The shortfall was reduced by 200 units with extensive housing completions in 2018. However, in 2019, as actual completions fall
behind supply target again, we continued to see deterioration in the shortfall which has intensified to 108,200 units.

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