Housing market activity diffusion in England and Wales

Gray, David (2023) Housing market activity diffusion in England and Wales. National Accounting Review, 5 (2). ISSN 2689-3010

Full content URL: https://doi.org/10.3934/NAR.2023008

Housing market activity diffusion in England and Wales
Open Access article
10.3934_NAR.2023008.pdf - Whole Document
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Item Type:Article
Item Status:Live Archive


This paper considers housing activity transmission across space using local indicators of spatial association. Activity does not diffuse like a ripple across England and Wales. Elevated activity appears to be associated with a south east-north west divide. The south east grows more quickly than the north west for a period of time, after which there is a switch in rank order. It is argued that changes in activity is associated with changing credit conditions to which the south east is more sensitive. Furthermore, it is proposed that activity features a type of participant induced on to the market by favourable price changes and credit conditions. It is argued that the reduced activity associated with ‘missing mortgage movers’ post-2007 reflects the lack of mortgage mover participation, which could have negative consequences for the macroeconomy.

Keywords:local authority district, ripple effect, local indicators of spatial association, housing market activity, missing movers
Subjects:L Social studies > L110 Applied Economics
K Architecture, Building and Planning > K450 Housing
Divisions:Lincoln International Business School
ID Code:54683
Deposited On:06 Jun 2023 11:21

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