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- Title
The Demand for Housing in Britain and Population Ageing: Microeconometric Evidence.
- Authors
Ermisch, John
- Abstract
This article estimates a household's demand function for housing in Great Britain. This paper takes a microeconometric approach, It estimates a demand function for housing in Great Britain, and then examines the implications of prospective changes in the age distribution for housing demand. An important by-product in estimating the demand function is an estimate of the price elasticity of housing demand. Despite the importance of this parameter in assessing the impact of policy changes, estimates of it for Great Britain are few, and existing ones are questionable, because of the absence of appropriate data for its estimation. The paper uses data from a recent survey carried out in six major conurbations. Among other things, the survey recorded for owner-occupiers the purchase price of their house, year of purchase and a number of characteristics of the dwelling and its neighborhood. Within each household established, the ages of its members are likely to affect the quantity and quality of housing demanded. Such effects are likely to operate independently of household income because of life-cycle patterns of housing "need" and preferences.
- Subjects
UNITED Kingdom; DEMAND function; HOUSING; ECONOMETRICS; ECONOMIC surveys; AGE distribution
- Publication
Economica, 1996, Vol 63, Issue 251, p383
- ISSN
0013-0427
- Publication type
Article
- DOI
10.2307/2555013