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Paper eres2012_353:
The rise and rise of private renting: Insights from supply and demand system modelling in Britain and New Zealand

id eres2012_353
authors Glen Bramley and Chris Leishman
year 2012
title The rise and rise of private renting: Insights from supply and demand system modelling in Britain and New Zealand
source 19th Annual European Real Estate Society Conference in Edinburgh, Scotland
summary Most academic attention seems to focus on owner occupation or social renting, but the big story of the last decade or more in many countries has been the resurgence of private rented housing. Both UK and New Zealand have seen large and sustained rises in the relative and absolute size of the sector, with relatively low increases in rents. After briefly reviewing the institutional and broader economic context for this phenomenon, including evidence on the profile of private landlords, the paper will suggest an appropriate framework for modelling the sector. This adapts the classic demand and supply model to yield a system entailing a rent and supply stock or flow function, possibly embedded in a wider housing market system addressing house prices and supply, at a sub-regional scale. Implementations of such models for New Zealand and parts of the UK (England, N Ireland) are compared and assessed, and implications for current views of investor and consumer behaviour are drawn out. Simulation models for wider housing systems in these countries are used to look at a range of potential future scenarios, leading to the conclusion that the rise of private renting is very likely to continue.
series ERES:conference
type normal paper
email g.bramley@hw.ac.uk
content file.ppt (186,880 bytes)
discussion No discussions. Post discussion ...
ratings
session Parallel Session C8
last changed 2014/10/21 21:51
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