Box B: Housing Divides – Cultural Diversity, Property Values, and the Uneven Geography of Opportunity in Northern Ireland

Rachel Cho, Hisham Farag, Christoph Görtz, Danny McGowan, Huyen Nguyen and Max Schröder

National Institute UK Economic Outlook, 2025, issue 19, 39-42

Abstract: Would you pay a premium to live in a multicultural neighbourhood? New research from Northern Ireland finds that many homebuyers do exactly that. This finding is significant, not just because it reveals something about peoples' preferences for their living environments, but because house prices can profoundly influence wealth inequality, community integration, and social mobility. In the United Kingdom, housing typically represents the largest component of household wealth. When house prices rise, homeowners gain more wealth, potentially exacerbating inequalities between property owners and renters. Thus, understanding what drives house prices, including the cultural composition of neighbourhoods, can help policymakers shape fairer and more inclusive housing markets.

Date: 2025
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