Abstract
| Language | English |
|---|---|
| Place of Publication | Glasgow |
| Publisher | University of Strathclyde |
| Pages | 1-30 |
| Number of pages | 31 |
| Volume | 13 |
| Publication status | Published - 2013 |
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Keywords
- house market
- affordability index
- heterogeneity
- panel data
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An Investigation of Housing Affordability in the UK Regions. / Montagnoli, Alberto ; Nagayasu, Jun .
16. ed. Glasgow : University of Strathclyde, 2013. p. 1-30.Research output: Working paper › Discussion paper
TY - UNPB
T1 - An Investigation of Housing Affordability in the UK Regions
AU - Montagnoli, Alberto
AU - Nagayasu, Jun
N1 - Published as a paper within the Discussion Papers in Economics, No. 13-16 (2013)
PY - 2013
Y1 - 2013
N2 - 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’ 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’ 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.
AB - 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’ 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’ 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.
KW - house market
KW - affordability index
KW - heterogeneity
KW - panel data
M3 - Discussion paper
VL - 13
SP - 1
EP - 30
BT - An Investigation of Housing Affordability in the UK Regions
PB - University of Strathclyde
CY - Glasgow
ER -