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The Demand for Housing in Britain and Population Ageing: Microeconometric Evidence

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  • Ermisch, John

Abstract

This paper estimates a household's demand function for housing using household data. Estimates of the price and (current) income elasticities are robust at about -0.4 and 0.5 respectively. Independent of price and income effects, there is a strong age pattern to household demand. In conjunction with the age profile of household formation, this pattern implies that changes in the age distribution of the population have important effects on aggregate housing demand, although economic growth dominates in determining its rate of growth. Copyright 1996 by The London School of Economics and Political Science.

Suggested Citation

  • Ermisch, John, 1996. "The Demand for Housing in Britain and Population Ageing: Microeconometric Evidence," Economica, London School of Economics and Political Science, vol. 63(251), pages 383-404, August.
  • Handle: RePEc:bla:econom:v:63:y:1996:i:251:p:383-404
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    Cited by:

    1. Heather M. Luea, 2008. "The Impact Of Financial Help And Gifts On Housing Demand And Cost Burdens," Contemporary Economic Policy, Western Economic Association International, vol. 26(3), pages 420-432, July.
    2. Yavuz Arslan & Evren Ceritoglu & Birol Kanik, 2014. "Nufus Yapisindaki Degisimlerin Uzun Donem Konut Talebi Uzerindeki Etkileri," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 14(2), pages 13-29.
    3. Eichholtz, Piet & Lindenthal, Thies, 2014. "Demographics, human capital, and the demand for housing," Journal of Housing Economics, Elsevier, vol. 26(C), pages 19-32.
    4. Fortin, Mario & Leclerc, André, 2002. "Déterminants du prix réel des logements au Canada," L'Actualité Economique, Société Canadienne de Science Economique, vol. 78(3), pages 293-320, Septembre.
    5. Molés Machí, Mª Cruz & Colom Andrés, Mª Consuelo, 2006. "A Model of Tenure and Dwelling Choice in Spain. A Comparison Between Urban and Rural Areas/Un modelo de elección del régimen de tenencia y tipo de vivienda en España. Una comparación entre el ámbito u," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 24, pages 631(20á)-63, Agosto.
    6. Hiller, Norbert & Lerbs, Oliver W., 2016. "Aging and urban house prices," Regional Science and Urban Economics, Elsevier, vol. 60(C), pages 276-291.
    7. Goodman, Allen C., 2002. "Estimating Equilibrium Housing Demand for "Stayers"," Journal of Urban Economics, Elsevier, vol. 51(1), pages 1-24, January.
    8. Andrew Benito, 2006. "How does the down-payment constraint affect the UK housing market?," Bank of England working papers 294, Bank of England.
    9. Joseph Nichols, 2004. "A Life-cycle Model with Housing, Portfolio Allocation, and Mortgage Financing," Econometric Society 2004 North American Winter Meetings 205, Econometric Society.
    10. Gholipour, Hassan F. & Farzanegan, Mohammad Reza, 2015. "Marriage crisis and housing costs: Empirical evidence from provinces of Iran," Journal of Policy Modeling, Elsevier, vol. 37(1), pages 107-123.
    11. David Miles, 2012. "Population Density, House Prices and Mortgage Design," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(5), pages 444-466, November.
    12. Yu Chen & Kenneth Gibb & Chris Leishman & Robert Wright, 2012. "The Impact of Population Ageing on House Prices: A Micro-simulation Approach," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(5), pages 523-542, November.
    13. Ermisch, John & Pevalin, David J., 2004. "Early childbearing and housing choices," Journal of Housing Economics, Elsevier, vol. 13(3), pages 170-194, September.
    14. Bo Malmberg, 2012. "Fertility Cycles, Age Structure and Housing Demand," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(5), pages 467-482, November.

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