Clark, S orcid.org/0000-0003-4090-6002, Hood, N orcid.org/0000-0002-2084-2155 and Birkin, M orcid.org/0000-0001-5991-098X (2021) A hedonic model of the association between grocery brand provision and residential rental prices in England. International Journal of Housing Markets and Analysis, 14 (4). pp. 680-700. ISSN 1753-8270
Abstract
Purpose
This study aims to measure the association between local retail grocery provision and private residential rental prices in England. Renting is an important sector of the housing market in England and local grocery provision is an important aspect of service provision and consumers are known to be highly sensitive to the branding of this type of retailing.
Design/methodology/approach
This research uses a novel data source from a property rental Web platform to estimate a hedonic model for the rental market. These models incorporate information on the nature of the properties and their neighbourhoods, with an emphasis on how different retail brands are associated with rental prices. This retail brand is captured on two scales: the provision of local branded convenience stores and the provision of larger stores.
Findings
The study finds clear differentials in how the local grocery brand is associated with rental prices. When controlling for commonly explored confounding factors, “Luxury” retailers such as Waitrose and Marks and Spencer are associated with higher rental prices, while “Discounter” retailers are associated with lower rental prices. This finding has many implications, particularly in relation to potential price changes in an already challenging housing market for many people.
Research limitations/implications
This is an observational study and as such only associations (not causation) can be implied by these findings.
Originality/value
The focus of this research is on the private residential property market, an important market in England but one that has enjoyed less scrutiny than the sales or socially rented markets. Rather than using general accessibility to retail, this research has differentiated the association by the retail brand and store size, two very important aspects of consumer choice.
Metadata
Item Type: | Article |
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Authors/Creators: | |
Copyright, Publisher and Additional Information: | © 2020, Emerald Publishing Limited. This is an author produced version of an article accepted for publication in International Journal of Housing Markets and Analysis. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | England; Housing prices; Pricing model; Renting; Residential property; Retail |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Environment (Leeds) > School of Geography (Leeds) > Centre for Spatial Analysis & Policy (Leeds) |
Funding Information: | Funder Grant number ESRC (Economic and Social Research Council) ES/L011891/1 ESRC (Economic and Social Research Council) ES/S007164/1 |
Depositing User: | Symplectic Publications |
Date Deposited: | 06 Aug 2020 11:34 |
Last Modified: | 26 Jul 2022 09:20 |
Status: | Published |
Publisher: | Emerald |
Identification Number: | 10.1108/IJHMA-05-2020-0062 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:163908 |
Downloads
Filename: Rental and Retail IJHMA_NH3133_SDCedits_5_for_deposit (1).pdf
Licence: CC-BY-NC 4.0
Filename: plots.pdf