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Immigration and House Prices in the UK

  • Sa, Filipa

    ()

    (King's College London)

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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File URL: http://ftp.iza.org/dp5893.pdf
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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, 2015, 125(587), 1393–1424
Handle: RePEc:iza:izadps:dp5893
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References listed on IDEAS
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  1. Glaeser, Edward & Saiz, Albert & Gyourko, Joseph, 2008. "Housing Supply and Housing Bubbles," Scholarly Articles 2962640, Harvard University Department of Economics.
  2. Ottaviano, Gianmarco & 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.
  3. Kathrin Degen & Andreas M. Fischer, 2010. "Immigration and Swiss House Prices," Working Papers 2010-16, Swiss National Bank.
  4. Hatton, Timothy J & Massimiliano Tani, 2003. "Immigration and Inter-Regional Mobility in the UK, 1982-2000," Royal Economic Society Annual Conference 2003 101, Royal Economic Society.
  5. Kaivan Munshi, 2003. "Networks in the Modern Economy: Mexican Migrants in the U. S. Labor Market," The Quarterly Journal of Economics, Oxford University Press, vol. 118(2), pages 549-599.
  6. Christian Dustmann & Francesca Fabbri & Ian Preston, 2005. "The Impact of Immigration on the British Labour Market," Economic Journal, Royal Economic Society, vol. 115(507), pages F324-F341, November.
  7. Steven Stillman & David C. Maré, 2008. "Housing Markets and Migration: Evidence from New Zealand," Working Papers 08_06, Motu Economic and Public Policy Research.
  8. Ather H. Akbari & Yigit Aydede, 2012. "Effects of immigration on house prices in Canada," Applied Economics, Taylor & Francis Journals, vol. 44(13), pages 1645-1658, May.
  9. Albert Saiz, 2003. "Immigration and housing rents in American cities," Working Papers 03-12, Federal Reserve Bank of Philadelphia.
  10. Christian Dustmann & Tommaso Frattini & Ian P. Preston, 2013. "The Effect of Immigration along the Distribution of Wages," Review of Economic Studies, Oxford University Press, vol. 80(1), pages 145-173.
  11. Giovanni Favara & Jean Imbs, 2015. "Credit Supply and the Price of Housing," American Economic Review, American Economic Association, vol. 105(3), pages 958-92, March.
  12. Libertad Gonzalez & Francesc Ortega, 2013. "Immigration And Housing Booms: Evidence From Spain," Journal of Regional Science, Wiley Blackwell, vol. 53(1), pages 37-59, 02.
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