Understanding Housing Demand Learning from rising markets in Yorkshire and Humber Paul Hickman, David Robinson, Rionach Casey, Stephen Green and Ryan Powell

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In recent years, interest has grown in housing markets but relatively little is known about how and why they change. Based on research in the Yorkshire and Humber region, focusing on four very different in-depth case studies, this report sheds light on this issue by concentrating on one side of the housing market equation, housing demand, and the aspirations, attitudes and wants of households. Unusually, the research focuses on 'rising' markets. It found that:

• Residential mobility is not simply a response to 'triggers' and 'push-pull' factors but a highly complex process. There is no 'magic ingredient' which causes some markets to rise quicker than others.
• Residential mobility decisions appear to be a result of a complex interplay between four factors: people's resources; residential perceptions and understandings; notions of place; and identity and dispositions, with the latter factor appearing to be the most important.
• In many parts of the region, housing-market change is not being driven by the decisions of purchasers as consumers but instead by their decisions as investors.

This report is an essential resource for practitioners and policy-makers at the national, regional and local level who need to understand housing markets and how and why they change.

Published for the Joseph Rowntree Foundation by the Chartered Institute of Housing

ISBN: 978-1-905018-38-3 / 978-1-905018-40-6   Order no: 241   Published: February 2007

Contents

1. Introduction
   • Study context
   • Research objectives and approach
   • Structure of the report
2. Rising markets in Yorkshire and the Humber
   • Introduction
   • The Yorkshire and Humber region and its housing market
   • 'Rising' markets in Yorkshire and the Humber
   • The distinctive characteristics of rising markets
   • Conclusion
3. A framework for understanding residential mobility
   • Introduction
   • Understanding residential mobility
   • A new framework for conceptualising residential mobility and understanding housing demand
   • Case study analysis of rising markets
4. Understand demand in high price markets: the case of Pannal
   • Introduction
   • Stories of mobility into Pannal
   • Looking beyond the push-pull
   • Conclusion
5. Understand demand in mid price markets: the case of Howden
   • Introduction
   • Stories of mobility into Howden
   • Looking beyond the push-pull
   • Conclusion
6. Understanding demand in low price markets: the case of Burngreave
   • Introduction
   • Stories of mobility into Burngreave
   • Looking beyond the push-pull
   • Conclusion
7. Making sense of mobility and housing demand
   • Introduction
   • Making sense of residential mobility
   • 'Consumers' and 'investors'
   • Investment-led demand
   • Conclusion
8. Understanding demand in low price markets: the case of Beeston Hill
   • Introduction
   • The impact of investment-led demand on the Beeston Hill housing market
   • Characteristics of investors
   • Factors attracting investors to Beeston Hill
   • The search process
   • Conclusion
9. Key messages and policy implications
   • Introduction
   • Key learning points
   • Policy implications
   • Conclusion