Immigration and property prices: Evidence from England and Wales

Nils Braakmann

MPRA Paper from University Library of Munich, Germany

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.

Keywords: immigration; property prices; housing market; England; Wales (search for similar items in EconPapers)
JEL-codes: J15 R21 R31 (search for similar items in EconPapers)
Date: 2013-08-29
New Economics Papers: this item is included in nep-eur, nep-his, nep-mig and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:49423

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