2025/08/11 by Antoninus M Samy · 1 voice
Economics, Econometrics and Finance · #Housing, Finance, and Neoliberalism #Housing Market and Economics #Historical Economic and Social Studies
paper · doi:10.1093/ereh/heaf015
openalex publication_date 2025/08/11 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/31
Abstract The Edwardian property slump was a major housing downturn that affected London before the First World War; however, existing house price indices fail to capture the scale of the decline that occurred during this period. This article uses two novel data sources to construct fresh indices that measure the slump. Capital values declined significantly during the Edwardian era, with nominal house prices falling by 35 percent between 1900 and 1913. Rents, on the other hand, remained relatively stable during this period. The results indicate that the slump was due to a flight of investment capital from the buy-to-let market.