<p>Housing tenure transition is an important policy consideration in Australia, where the value of housing has grown rapidly over the last decade. The paper empirically examines how COVID-19 response strategies influenced housing tenure transition. Specifically, it examines (1) the impact of COVID-19 support payment on housing tenure transition, (2) the relationship between working from home and housing tenure transition, and (3) whether individuals who were working and at the same time receiving COVID-19 support payment are more likely to acquire a home or transition from renting to owning a home. We employ two measures of housing tenure transition: homeownership and rent-to-own transition. On one hand, our results show an insignificant positive relationship between COVID-19 support payment and housing transition, however, the combined impact of COVID-19 support payment and working during the pandemic on housing tenure transition turned out to be significant and positive. This suggests that individuals working during the COVID period and at the same time receiving COVID-19 support payments are more likely to own a home or transition from renting to home ownership. On the other hand, we find that the prevalence of working from home during the COVID-19 pandemic increases the probability of acquiring a new home for work-related activities. Saving explains why individuals who were working and receiving COVID-19 support payments are more likely to own a home or transition from renting to home ownership.</p>

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COVID-19 policy response and housing tenure transition

  • Opoku Adabor,
  • Samuel Swanzy-Impraim

摘要

Housing tenure transition is an important policy consideration in Australia, where the value of housing has grown rapidly over the last decade. The paper empirically examines how COVID-19 response strategies influenced housing tenure transition. Specifically, it examines (1) the impact of COVID-19 support payment on housing tenure transition, (2) the relationship between working from home and housing tenure transition, and (3) whether individuals who were working and at the same time receiving COVID-19 support payment are more likely to acquire a home or transition from renting to owning a home. We employ two measures of housing tenure transition: homeownership and rent-to-own transition. On one hand, our results show an insignificant positive relationship between COVID-19 support payment and housing transition, however, the combined impact of COVID-19 support payment and working during the pandemic on housing tenure transition turned out to be significant and positive. This suggests that individuals working during the COVID period and at the same time receiving COVID-19 support payments are more likely to own a home or transition from renting to home ownership. On the other hand, we find that the prevalence of working from home during the COVID-19 pandemic increases the probability of acquiring a new home for work-related activities. Saving explains why individuals who were working and receiving COVID-19 support payments are more likely to own a home or transition from renting to home ownership.