Two Up Two Down: Latest housing market statistics

Today’s batch of housing market figures for the third quarter could be summed up as “two up two down”. Two indicators (residential property prices and house completions) posted year-on-year growth.  Meanwhile housing starts and the number of residential property transactions are on the wane. 

Generation rent. House prices are always one of the most closely watched economic indicators by the general public or at least homeowners and potential first-time buyers.   Although the rise of the private rented sector over the last decade means for an increasing share of society, rental prices are more relevant than house prices. Homeownership is not on the radar for as many under 40s as it once was.

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Time to promote a ‘property-renting democracy’

 There’s no shortage of information on the housing market, telling us how prices and sales activity for instance are changing on an annual, quarterly or even monthly basis. These surveys are important and give us a flavour of how the market, which is a key part of the economy, is performing. But there is a danger that we get too fixated on these numbers and miss a more important trend.

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