@techreport{cbe315adbabf41f7999786c6717ef496,
title = "An Investigation of Housing Affordability in the UK Regions",
abstract = "The housing market has been extensively investigated in the literature; however there is a lack of understanding of the fundamentals affecting housing affordability across UK regions as measured by the price to income ratio. The aim of this paper is twofold; firstly we calculate the affordability ratio based on individuals{\textquoteright} incomes. Second we set off to ask which socioeconomic factors could affect this ratio. The analysis finds a strong influence coming from the mortgage rate, the residents{\textquoteright} age and academic qualifications. We also report a positive and significant effect from foreign capital coming to the UK. Finally, we record a non-negligible degree of heterogeneity across the twelve regions.",
keywords = "house market, affordability index, heterogeneity, panel data",
author = "Alberto Montagnoli and Jun Nagayasu",
note = "Published as a paper within the Discussion Papers in Economics, No. 13-16 (2013)",
year = "2013",
month = aug,
day = "20",
language = "English",
series = "Strathclyde Discussion Papers in Economics",
publisher = "University of Strathclyde",
type = "WorkingPaper",
institution = "University of Strathclyde",
}