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Demographic Change and the Housing Market: Evidence from a Comparison of Scotland and England

Department of Urban Studies, University of Glasgow, 25 Bute Gardens, Glasgow, G12 8RS, UK, e.levin{at}socsci.gla.ac.uk

Alberto Montagnoli

Department of Economics, University of Stirling, 3B62 Cottrell Building, Stirling, FK9 4BR, UK, alberto.montagnoli{at}stir.ac.uk

Robert E. Wright

Department of Economics, University of Strathclyde, 130 Rottenrow, Glasgow, G4 0GE, UK, r.e.wright{at}strath.ac.uk

This paper examines the impact of demographic change on the housing market. More specifically, a difference-in-differences methodology is used to explore the effect of population decline and population ageing on house prices in Scotland and England/Wales. The analysis suggests that population decline and population ageing put downward pressure on prices. Therefore, the long-run trend of rising real house prices can not be assumed to continue into the future, particularly in Scotland.

Urban Studies, Vol. 46, No. 1, 27-43 (2009)
DOI: 10.1177/0042098008098635


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