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Immigration and House Prices in the UK

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  • Sa, Filipa

    ()
    (King's College London)

Abstract

This article studies the effect of immigration on house prices in the UK. It finds that immigration has a negative effect on house prices and presents evidence that this negative effect is due to the mobility response of the native population. Natives respond to immigration by moving to different areas and those who leave are at the top of the wage distribution. This generates a negative income effect on housing demand and pushes down house prices. The negative effect of immigration on house prices is driven by local areas where immigrants have lower education.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5893.

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Length: 30 pages
Date of creation: Jul 2011
Date of revision:
Publication status: published in: The Economic Journal, 2014, [Online First]
Handle: RePEc:iza:izadps:dp5893

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Keywords: house prices; immigration;

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  1. Saiz, Albert, 2007. "Immigration and housing rents in American cities," Journal of Urban Economics, Elsevier, vol. 61(2), pages 345-371, March.
  2. Libertad González Luna & Francesc Ortega, 2009. "Immigration and housing booms: Evidence from Spain," Economics Working Papers 1167, Department of Economics and Business, Universitat Pompeu Fabra.
  3. Jean Imbs & Giovanni Favara, 2011. "Credit Supply and the Price of Housing," 2011 Meeting Papers 1342, Society for Economic Dynamics.
  4. Hatton, Timothy J & Massimiliano Tani, 2003. "Immigration and Inter-Regional Mobility in the UK, 1982-2000," Royal Economic Society Annual Conference 2003, Royal Economic Society 101, Royal Economic Society.
  5. Ottaviano, Gianmarco Ireo Paolo & Peri, Giovanni, 2007. "The Effects of Immigration on US Wages and Rents: A General Equilibrium Approach," CEPR Discussion Papers 6551, C.E.P.R. Discussion Papers.
  6. Glaeser, Edward & Saiz, Albert & Gyourko, Joseph, 2008. "Housing Supply and Housing Bubbles," Scholarly Articles 2962640, Harvard University Department of Economics.
  7. Kathrin Degen & Andreas M. Fischer, 2010. "Immigration and Swiss House Prices," Working Papers 2010-16, Swiss National Bank.
  8. Kaivan Munshi, 2003. "Networks In The Modern Economy: Mexican Migrants In The U.S. Labor Market," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 118(2), pages 549-599, May.
  9. Ather H. Akbari & Yigit Aydede, 2012. "Effects of immigration on house prices in Canada," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 44(13), pages 1645-1658, May.
  10. Christian Dustmann & Tommaso Frattini & Ian Preston, 2008. "The Effect of Immigration along the Distribution of Wages," CReAM Discussion Paper Series 0803, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
  11. Christian Dustmann & Francesca Fabbri & Ian Preston, 2005. "The Impact of Immigration on the British Labour Market," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 115(507), pages F324-F341, November.
  12. Steven Stillman & David C. Maré, 2008. "Housing Markets and Migration: Evidence from New Zealand," Working Papers, Motu Economic and Public Policy Research 08_06, Motu Economic and Public Policy Research.
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