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The Establishment Of Markets For Owner-Occupation Within Public Sector Communities

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  • Colin Jones
  • Jim Brown

Abstract

Urban regeneration strategies in the UK have placed considerable emphasis on the development of homeownership and particularly low-cost homeownership. The paper assesses the long-term viability of local homeownership initiatives in public sector communities by reference to case studies in four UK cities. In particular, the research chronicles the housing market experience of localized initiatives and assesses whether in the long term a sustainable market is achieved. The research finds similar market characteristics for both public sector community and inner city homeownership initiatives. Internal demand and externalities create fragile markets. Initial purchasers of these houses acquired in general a poor long-term investment relative to opportunities elsewhere in the housing market. The research suggests that private housing developments within public sector communities are at least as successful as inner city estates for sale. However, while resale markets have developed in most of these estates prices are not high enough to establish sustainable markets.

Suggested Citation

  • Colin Jones & Jim Brown, 2002. "The Establishment Of Markets For Owner-Occupation Within Public Sector Communities," European Journal of Housing Policy, Taylor and Francis Journals, vol. 2(3), pages 265-292.
    • Handle: RePEc:taf:eurjhp:v:2:y:2002:i:3:p:265-292
    DOI: 10.1080/1461671021000031511
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    References listed on IDEAS

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    1. Colin Jones & Craig Watkins, 1996. "Urban Regeneration and Sustainable Markets," Urban Studies, Urban Studies Journal Limited, vol. 33(7), pages 1129-1140, August.
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    Cited by:

    1. Declan Redmond & Paula Russell, 2008. "Social Housing Regeneration and the Creation of Sustainable Communities in Dublin," Local Economy, London South Bank University, vol. 23(3), pages 168-179, August.
    2. Colin A. Jones, 2009. "Remaking the Monopoly Board: Urban Economic Change and Property Investment," Urban Studies, Urban Studies Journal Limited, vol. 46(11), pages 2363-2380, October.

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