+0.9 on previous index reading
At 118.9 in September 2021, the Housing Pulse was up 0.9 on last month’s reading and 56.0 higher than a year ago. While the recently unveiled ‘Housing for All’ plan aims to increase new home completions to an average of 33,000 per annum during this decade, over three in five builders in the residential sector are currently struggling with material and equipment shortages and half are experiencing labour shortfalls, which implies the demand-supply gap will not be closed any time soon. Against this backdrop, 83% of households expect house prices to rise over the coming year and 75% (a series high) think rents will go up.