Author:
Aguda Oluwadamilola,Ebohon Obas John
Abstract
Purpose
Against the backdrop of the changing trends in tenure in the UK housing system, young adults are faced with different situations that continue to shape their housing consumption and decisions. The purpose of this paper is to investigate the relationships amongst young adults’ housing tenure, social capital and elements of perceived job security in Britain. Socio-psychological dimension of housing tenure decisions has been receiving attention by housing market analysts and practitioners seeking deeper understandings of the UK housing market dynamics, particularly in the wake of changing tastes and preferences of young people concerning housing decisions across major cities of the world.
Design/methodology/approach
A quantitative approach has been applied to the harmonised version of the British Household Panel Survey (BHPS) from 2001 to 2015.
Findings
The authors discovered that British young adults’ homeownership decisions are increasingly influenced by social capital and elements of perceived job insecurity, depending on their tenure of origin. Furthermore, this study will significantly enhance the understanding of tenure shifts amongst young adults in the UK and provide property developers, local authorities and central governments the knowledge and information to guide economic policies, urban renewal towards achieving better social cohesion and sustainable communities.
Originality/value
Very little has been done to investigate the contributions of social capital formation, for example, neighbourhood or social integration and social relations and elements of perceived job security on housing tenure transitions among British young adults. This study will further provide property developers, local authorities and central governments the knowledge and information to guide economic policies, urban renewal towards achieving better social cohesion and sustainable communities.
Subject
General Economics, Econometrics and Finance
Reference46 articles.
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2. Contributions of path-dependency and social capital drivers to housing tenure transitions in Britain;International Journal of Housing Markets and Analysis,2019
3. The changing route to owner occupation: the impact of student debt;Housing Studies,2010
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