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Local house prices, parental background and young adults homeownership in England and Wales

Coulter, R; (2016) Local house prices, parental background and young adults homeownership in England and Wales. Urban Studies , 54 (14) pp. 3360-3379. 10.1177/0042098016668121. Green open access

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Abstract

Financial constraints are thought to be making parental support an increasingly influential factor in the homeownership transitions of young Britons. This could inhibit social mobility, exacerbate the intergenerational transmission of wealth and deepen housing inequality. Although research shows that parental socio-economic advantage is associated with filial homeownership, less is known about whether these relationships are particularly pronounced in expensive housing markets where access to homeownership is often more constrained. This study tests this hypothesis by enriching the Office for National Statistics Longitudinal Study of England and Wales with data on local transactional house prices. Multilevel models indicate that disparities in the odds of homeownership between young adults with more and less socio-economically advantaged parents tend to deepen with increasing house prices. This pattern is most noticeable for women. However, parents and prices only intersect to greatly stratify the probability of homeownership when young adults’ circumstances are otherwise conducive to owning.

Type: Article
Title: Local house prices, parental background and young adults homeownership in England and Wales
Open access status: An open access version is available from UCL Discovery
DOI: 10.1177/0042098016668121
Publisher version: http://doi.org/10.1177/0042098016668121
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: homeownership, house prices, intergenerational transmission, social stratification, young adults
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Geography
URI: https://discovery.ucl.ac.uk/id/eprint/1558451
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