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Immigration and the Property Market: Evidence from England and Wales

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  • Nils Braakmann

Abstract

This article investigates the link between immigration and property markets in England and Wales. Evidence from fixed effects and shift‐share–based instrumental variable regressions suggests that an increase in regional immigration, depending on the specification, either decreases prices at the lower end of the distribution up to the median or leaves them unchanged and has (almost) no effect on mean property prices or prices above the median. The evidence suggests that these findings can be explained through an interaction between the markets for rented and owned properties as well as through changes in the usage of housing space.

Suggested Citation

  • Nils Braakmann, 2019. "Immigration and the Property Market: Evidence from England and Wales," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 47(2), pages 509-533, June.
    • Handle: RePEc:bla:reesec:v:47:y:2019:i:2:p:509-533
    DOI: 10.1111/1540-6229.12151
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    Cited by:

    1. Umut Unal & Bernd Hayo & Isil Erol, 2022. "The Effect of Immigration on the German Housing Market," MAGKS Papers on Economics 202238, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    2. Johannes Strobel & Binh Nguyen Thanh & Gabriel Lee, 2020. "Effects of Macroeconomic Uncertainty and Labor Demand Shocks on the Housing Market," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(2), pages 345-372, June.
    3. Morteza Moallemi & Daniel Melser, 2020. "The impact of immigration on housing prices in Australia," Papers in Regional Science, Wiley Blackwell, vol. 99(3), pages 773-786, June.
    4. Andersson, Henrik & Berg, Heléne & Dahlberg, Matz, 2021. "Migrating natives and foreign immigration: Is there a preference for ethnic residential homogeneity?," Journal of Urban Economics, Elsevier, vol. 121(C).
    5. Taufiq Choudhry, 2020. "Economic Policy Uncertainty and House Prices: Evidence from Geographical Regions of England and Wales," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 48(2), pages 504-529, June.
    6. Peter Howley & Muhammad Waqas & Mirko Moro & Liam Delaney & Tony Heron, 2020. "It’s Not All about the Economy Stupid! Immigration and Subjective Well-Being in England," Work, Employment & Society, British Sociological Association, vol. 34(5), pages 919-936, October.
    7. Morteza Moallemi & Daniel Melser & Xiaoyan Chen & Ashton Silva, 2022. "The Globalization of Local Housing Markets: Immigrants, the Motherland and Housing Prices in Australia," The Journal of Real Estate Finance and Economics, Springer, vol. 65(1), pages 103-126, July.

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