Driven by the ‘three gears’ of population growth, urbanisation and household formation. Further analysis suggests market renters will overtake mortgage owners by 2024.
Urban household formation is now more than three times the broader rate of population growth in Europe, new research from Greystar, a global leader in rental housing, has revealed. The trend is driven by the ‘three gears’ of population growth, urbanisation and household formation, all of which are closely interlinked. Population growth is levered by urbanisation trends in towns and cities, which is then levered by the rise of single-person households. This has resulted in urban household growth of 10% since 2010, compared with the European population (EU incl. UK) which has grown by 3% over the same period.
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