Regional house price cohesion in the UK: recent trends and Covid

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Authors
Miles, William
Advisors
Issue Date
2025-05-08
Type
Article
Keywords
Covid , House price cohesion , R1 , R31 , Regional housing markets
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Citation
Miles, W. (2025). Regional House Price Cohesion in the UK: Recent Trends and Covid. International Regional Science Review, 0(0). https://doi.org/10.1177/01600176251338840
Abstract

Co-movement of house prices across geographical markets (or a lack of such co-movement) has implications for labour mobility and the effectiveness of monetary and other national policies. Previous research on home value co-movement across the UK has yielded mixed findings. In this study we employ a variety of different metrics, and use a sample which includes the covid and post-covid time periods. We find that co-movement has fluctuated greatly over 50 years, but there has not been a clear upward or downward trend in cyclical cohesion over the last five decades. However, there has been a sharp increase in co-movement after the covid pandemic. This reflects a “flattening of the gradient” found in other studies. To the extent that more targeted fiscal transfers to lower-income regions, as well as a relaxation of planning rules for new housing development may encourage greater co-movement, these policies may be worth pursuing. © The Author(s) 2025.

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Description
This is an open access article under the CC BY license.
Publisher
SAGE Publications Inc.
Journal
International Regional Science Review
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Series
PubMed ID
ISSN
01600176
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