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Residential mobility: Wealth, demographic and housing market effects

Research output: Contribution to journalArticle

Original languageEnglish
Pages (from-to)483-499
Number of pages17
JournalScottish Journal of Political Economy
Volume59
Issue number5
Early online date2 Oct 2012
DOIs
DateE-pub ahead of print - 2 Oct 2012
DatePublished (current) - 2012

Abstract

The study presents a very simple model in which housing equity can influence
mobility, and then estimates parameters that gauge the impact of housing equity,
local house prices and other variables associated with household structure and
change on residential movement within the UK. The data come from the British
Household Panel Study over 1992–2008, which allow us to use within-person
variation to identify the parameters. The parameter estimates indicate that estimates
based on cross-section variation are seriously biased in our analysis. We
check the robustness of our results to errors in measuring equity using an instrumental
variable estimator. Our main finding is that an increase in a household’s
housing equity encourages residential mobility substantially, and a decline discourages
it.

Additional information

Special Issue: Demographic Change and Housing Markets

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