Table of contents
SUMMARY ...............................................................................................................................3
THE BASICS ..............................................................................................................................7
KEY MACRO FIGURES............................................................................................................9
HOUSING MARKETS .............................................................................................................13
ON THE ESTIMATES..............................................................................................................16
VALUATION...........................................................................................................................19
TRADING IDEAS.....................................................................................................................19
MACRO TABLES.....................................................................................................................24
BWG HOMES..........................................................................................................................26
JM AB ......................................................................................................................................35
NCC..........................................................................................................................................44
PEAB........................................................................................................................................53
SKANSKA ...............................................................................................................................62
VEIDEKKE..............................................................................................................................72