Regional Economic Divergence and House Prices: A Comparison of Germany and the UK

Benedikt Blaseio, Colin Jones

Research output: Contribution to journalArticle

Abstract

Purpose
Increasing regional wealth disparities have been explained by the role of agglomeration economies and the concentration of skilled mobile human capital. This paper aims to draw out the role of the housing market by considering the differential experience of Germany and the UK.

Design/methodology/approach
The empirical analysis is based on the comparison of regional house price trends in Germany and UK-based annual data from 1991 to 2015.

Findings
Regional house price inequality is found to have increased in both countries with the spatial concentration of skilled human capital. However, the main conclusion is that there are differential paths to regional house price inequality explained by the parameters of each country’s housing market.

Originality/value
The research is the first to compare and explain differential regional house price trends across countries.
LanguageEnglish
JournalInternational Journal of Housing Markets and Analysis
Early online date4 Apr 2019
DOIs
Publication statusE-pub ahead of print - 4 Apr 2019

Fingerprint

Divergence
Germany
Regional economics
House prices
Human capital
Housing market
Empirical analysis
Spatial concentration
Design methodology
Agglomeration economies
Wealth

Keywords

  • Germany
  • Regional house prices
  • United Kingdom

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

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AB - PurposeIncreasing regional wealth disparities have been explained by the role of agglomeration economies and the concentration of skilled mobile human capital. This paper aims to draw out the role of the housing market by considering the differential experience of Germany and the UK.Design/methodology/approachThe empirical analysis is based on the comparison of regional house price trends in Germany and UK-based annual data from 1991 to 2015.FindingsRegional house price inequality is found to have increased in both countries with the spatial concentration of skilled human capital. However, the main conclusion is that there are differential paths to regional house price inequality explained by the parameters of each country’s housing market.Originality/valueThe research is the first to compare and explain differential regional house price trends across countries.

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