‘Three gears’ of demographic demand

It is widely understood that demand for urban housing is driven by demographic trends; the more people there are, the more housing they need. However, a deeper analysis reveals that this is not simply population growth, but rather three distinct and interlinked ‘gears of demand’: population growth, urbanisation, and household formation. Since 2010, the European population has grown by 3.1%, Europe’s hundred largest cities has grown by 7.4% and the number of households in these 100 cities has grown by 9.8% growth.