Regional differences in mortgage demand and mortgage instrument choice in the UK

Auteur(s) et Affiliation(s)

KOBLYAKOVA, A.

Property Management and Development, School of Architecture, Design and the Built Environment, Nottingham Trent Univ., Nottingham, Royaume-Uni

HUTCHISON, N.

Centre for Real Estate Research, Univ. of Aberdeen Business School, Aberdeen, Royaume-Uni

TIWARI, P.

Faculty of Architecture, Building and Planning, University of Melbourne, Melbourne, Australie

Description :
This paper presents empirical evidence of regional variations in mortgage choice decisions within the UK's mortgage sector. Utilizing British Household Panel Survey data for the years 2001, 2007 and 2008, it suggests that a household's decision to choose a variable rate mortgage is more likely to occur in areas with lower incomes and affordability rates, such as Northern England, Scotland and Wales. Since variable rate mortgages are more sensitive to income and monetary policy shocks, the disproportional distribution of variable contracts within the mortgage sector may have a differential impact on the regions.

Type de document :
Article de périodique

Source :
Regional studies, issn : 0034-3404, 2014, vol. 48, n°. 9, p. 1499-1513, nombre de pages : 15, Références bibliographiques : 2 p.

Date :
2014

Editeur :
Pays édition : Royaume-Uni, Cambridge, Cambridge University Press

Langue :
Anglais