Analysing income and its relationship with house prices at the local level using consumer data
Published: July 2018
Using consumer data, this project will explore the relationship between house prices and income in local areas.
In particular, it will assess various measures of income in the UK and investigate housing affordability in different areas of the country.
Local area income estimates are not commonly available. The UK Census has never included income questions because of fears about collecting accurate information and implications for response rates, while other surveys (such as The Family Resources Survey) are not sufficiently powered to conduct analysis in small geographical areas.
This research involves secondary analysis of 'Acxiom' and CAMEO Classifications', two consumer datasets. These datasets will be used to assess various measures of income in the UK at the local level, which will be presented spatially (for instance, through the use of maps).
This data will be supplemented with local area information, such as crime and deprivation, to build a model of house prices and to assess housing affordability in the England.
This work was commissioned by the Consumer Data Research Centre (CDRC) and is being conducted in partnership with ZK Analytics.