Research Output

Local housing submarket structure and regional household housing choice behaviour.

  As home ownership in the UK housing market has become mature, economic and
econometric analyses of urban and regional owner-occupier housing markets have
become a long-standing concern of housing economists.
This thesis defines a nestedl ocal housing submarkets tructureT. he dynamic stock flow
model with trade friction is revised and applied to analysing the local owner occupier
housing submarket operational process. The short run and long run equilibrium and
discquilibrium nature of a local owner occupier housing submarkct system are divulged.
This model explores the submarket house price determinants and the role of housing
submarket trade friction in submarket house price formation. The computer simulation
reveals the relationship between the housing submarket structure and the system
stability. The role of household housing choice behaviour in directing the system has
been carefully demonstrated.
On the premise of the utility maximisation approach, a behavioural model of regional
household housing choice per housing submarket is set up. It is argued that the structure
of the regional labour market determines household dwelling location choice. The
influence of housing submarket marketability (defined as an inverse of the submarket
trade friction) on household housing choice behaviour is considered. The family life
cycle pattern of housing choice behaviour and the influence of household financial
constraints on housing choice are also developed in the model.
The empirical analysis is based on both Stated and Revealed preference information in
order to overcome the dwelling supply constraint. The data is derived from the Lothian
Region owner occupier housing market. The empirical results are compared with those
of the existing housing choice models.
The policy implications which follow from this thesis are then discussed in the light of
the findings

  • Type:


  • Date:

    31 May 1995

  • Publication Status:


  • Library of Congress:

    HD Industries. Land use. Labor

  • Dewey Decimal Classification:

    333 Economics of land & energy


Tu, Y. Local housing submarket structure and regional household housing choice behaviour. (Thesis)


housing economics; submarket structure; owner/ occupier;

Monthly Views:

Available Documents