'House prices driven down in areas full of migrants', shows new study | Property | News | Daily Express
Now I'm actually surprised by some of this.
Dr Nils Braakmann identified two reasons for his findings – which contradict the belief that migrants push prices up.
He says people leave areas as immigrants move in. Properties are left empty and in disrepair and then sell cheaper.
And poorer migrants tend to live in crowded conditions to keep costs down. This depresses values because there is no question of demand outstripping supply.
By contrast, many experts have claimed an influx of eastern Europeans in the past decade is a main cause of raised prices.
...................
She found immigration equal to one per cent of a local population was linked to a 1.6 per cent fall in property values. This was because 0.9 per cent of the locals moved out – usually wealthier people.
He says people leave areas as immigrants move in. Properties are left empty and in disrepair and then sell cheaper.
And poorer migrants tend to live in crowded conditions to keep costs down. This depresses values because there is no question of demand outstripping supply.
By contrast, many experts have claimed an influx of eastern Europeans in the past decade is a main cause of raised prices.
...................
She found immigration equal to one per cent of a local population was linked to a 1.6 per cent fall in property values. This was because 0.9 per cent of the locals moved out – usually wealthier people.
Comment