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Changes in transitions from private renting to homeownership in the context of rapidly rising house prices

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A period associated with the emergence of the current housing crisis in Britain provides a testbed in which to investigate household tenure choice in the context of rapidly rising house prices. We compile a bespoke dataset combining data from the British Household Panel Survey and sources of local and national housing and mortgage market information covering the period 1994-2008. During this period, we observe three key changes in behaviour associated with the emergence of the housing crisis: i) increasing acceptance of long-term renting; ii) the emergence of local house prices as a factor inhibiting entry to homeownership at district level; and iii) the cessation of moving to a lower cost district as a strategy to enter homeownership. We interpret these findings as some private tenants reducing their aspiration for homeownership, and those seeking entry to homeownership shifting strategy from moving to cheaper districts in favour of staying put and saving.
Original languageEnglish
Number of pages17
JournalHousing Studies
Early online date19 Feb 2018
DOIs
Publication statusEarly online - 19 Feb 2018

Documents

  • Changes in transitions from private renting

    Rights statement: This is an Accepted Manuscript of an article published by Taylor & Francis in Housing Studies on 09.02.2018, available online: http://www.tandfonline.com/doi/full/10.1080/02673037.2018.1432754.

    Accepted author manuscript (Post-print), 419 KB, PDF document

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