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Immigration and property prices: Evidence from England and Wales

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  • Braakmann, Nils

Abstract

This paper investigates the link between immigration and property prices in England and Wales. Evidence from fixed effects and shift-share-based instrumental variable regressions suggests that an increase in the regional share of migrants (a) decreases prices at the lower end of the distribution up to the median and (b) has (almost) no effect on mean property prices or prices above the median. I also provide evidence on two mechanisms that explain these effects: (c) natives move out of regions as immigration increases and (d) the number of persons per room increases with the share of immigrants.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 49423.

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Date of creation: 29 Aug 2013
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Handle: RePEc:pra:mprapa:49423

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Keywords: immigration; property prices; housing market; England; Wales;

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  1. 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.
  2. Saiz, Albert, 2006. "Immigration and Housing Rents in American Cities," IZA Discussion Papers 2189, Institute for the Study of Labor (IZA).
  3. Gianmarco I.P. Ottaviano & Giovanni Peri, 2006. "The economic value of cultural diversity: evidence from US cities," Journal of Economic Geography, Oxford University Press, vol. 6(1), pages 9-44, January.
  4. Marco Manacorda & Alan Manning & Jonathan Wadsworth, 2012. "The Impact Of Immigration On The Structure Of Wages: Theory And Evidence From Britain," Journal of the European Economic Association, European Economic Association, vol. 10(1), pages 120-151, 02.
  5. Christian Dustmann & Ian Preston, 2012. "Comment: Estimating The Effect Of Immigration On Wages," Journal of the European Economic Association, European Economic Association, vol. 10(1), pages 216-223, 02.
  6. George J. Borjas & Jeffrey Grogger & Gordon H. Hanson, 2012. "Comment: On Estimating Elasticities Of Substition," Journal of the European Economic Association, European Economic Association, vol. 10(1), pages 198-210, 02.
  7. David Card, 1997. "Immigrant Inflows, Native Outflows, and the Local Labor Market Impacts of Higher Immigration," NBER Working Papers 5927, National Bureau of Economic Research, Inc.
  8. David Card & Christian Dustmann & Ian Preston, 2009. "Immigration, Wages, and Compositional Amenities," NBER Working Papers 15521, National Bureau of Economic Research, Inc.
  9. Albert Saiz, 2003. "Room in the Kitchen for the Melting Pot: Immigration and Rental Prices," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 502-521, August.
  10. David Card, 2012. "Comment: The Elusive Search For Negative Wage Impacts Of Immigration," Journal of the European Economic Association, European Economic Association, vol. 10(1), pages 211-215, 02.
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