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作者

来源

REAL ESTATE ECONOMICS,Vol.47,Issue2,P.509-533

语言

英文

关键字

HOUSE PRICE SHOCKS; IMPACT

作者单位

[Braakmann, Nils] Newcastle Univ, Business Sch Econ, Newcastle Upon Tyne NE1 4SE, Tyne & Wear, England. Braakmann, N (reprint author), Newcastle Univ, Business Sch Econ, Newcastle Upon Tyne NE1 4SE, Tyne & Wear, England. E-Mail: nils.braakmann@ncl.ac.uk

摘要

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.