Dr Mark Andrew

Senior Lecturer

Bayes Business School , Finance

Contact

About

Overview

Dr. Mark Andrew joined the real estate group at Bayes (formerly Cass) in January 2007. He was previously a Lecturer in Economics at the University of Reading. Mark's research interests are in the fields of housing economics, micro-econometrics and panel data analysis. Dr. Andrew has published in journals such as Environment and Planning A, Real Estate Economics, Regional Science & Urban Economics, Housing Economics and the Scottish Journal of Political Economy. He has also been involved in a number of government funded projects for the DCLG and Office of the Deputy Prime Minister as well as a number of ESRC funded projects. He is currently serving as a member of the Research Steering Group for the Investment Property Forum (IPF).

Qualifications

  • PhD in Economics (Reading)

Memberships of committees

  • Research Steering Group Committee, Investment Property Forum, September 2019 - present

Memberships of professional organisations

  • academic, Investment Property Forum, December 2012 - present
  • academic, American Real Estate and Urban Economics Association (AREUEA), January 2001 - present
  • academic, Royal Economic Society, January 2001 - present

Expertise

Primary topics

  • Econometrics
  • Economics
  • Real Estate
  • Real Estate Economics

Industries

  • non-profit & voluntary sector
  • public sector
  • real estate

Research

My research interests over the last three years involved looking at (i) the changes in young adult household formation and home ownership rates in the UK, (ii) the spatial distribution of housing affordability, (iii) house price formation. The first strand of research identifies the tightening of credit market constraints and slower earnings growth brought about by structural change in the labour market as significant factors in explaining declines of home ownership rates among the young. The second strand explores whether the mechanisms of New Economic Geography can explain the disparities in housing affordability in the UK.

Research topics

Household Formation and Housing Tenure Choice

Explaining Falls in Young Adult Homeownership Rates

House Price Formation

Explaining how individuals form expectations

Housing Tenure Choices in the Future

Impact of Student Debt

Spatial Analysis of Housing Affordability

Theoretical and Empirical Analysis Based on Local Authority District/Housing Markets

Publications

Book

  1. Andrew, M. and Tsolacos, S. (2020). Applied Quantitative Analysis for Real Estate. Oxon: Routledge. ISBN 9781138561335.

Chapters (3)

  1. Andrew, M. (2012). Neoclassical models of the housing market. International Encyclopedia of Housing and Home (pp. 96-102).
  2. Andrew, M. (2011). Neoclassical Models of the Housing Market. International Encyclopedia of Housing and Home (pp. 96-102).
  3. Andrew, M. and Meen, G. (2004). The Role of Housing in City Economic Performance in City Matters: Competitiveness , Cohesion and Urban Governance. In Boddy, M. and Parkinson, M. (Eds.), City matters: Competitiveness, cohesion and urban governance The Policy Press. ISBN 1861344449.

Conference papers and proceedings (10)

  1. Andrew, M., Bramely, G., Leishman, C. and White, M. (2010). Modelling Housing Affordability at the Subregional Level. 50th ERSA Congress (European Regional Science Association) 19-23 August, Jönköping, Sweden.
  2. Andrew, M., Bramely, G., Leishman, C. and White, M. (2010). Final Report. NHPAU Steering Group Meeting and Expert Panel London.
  3. Andrew, M. and Evans, A. (2009). An Anatomy of Speculation in a Housing Market Boom. 15th Pacific Rim Real Estate Society (PREES) Annual Conference 18-21 January, Sydney, Australia.
  4. Andrew, M., Bramely, G., Leishman, C. and White, M. (2009). Findings for Modelling Housing Affordability at the Subregional Level. NHPAU Steering Group Meeting and Expert Panel London.
  5. Andrew, M. (2008). The Changing Route to Owner Occupation: The Impact of Household Formation and Borrowing Constraints on Young Adult Homeownership in Britain. IREBS Symposium Regensburg, Germany.
  6. Andrew, M. (2008). The Homeownership Market. Property Upturns and Downturns London.
  7. Andrew, M. and Evans, A. (2007). The Anatomy of Speculation: A National Analysis. ERES London.
  8. Andrew, M. and White, M. (2006). Explaining the Route to Owner Occupation: The Role of Transactions Costs. International AREUEA/ASRES Vancouver.
  9. Andrew, M. and Evans, A. (2006). An Anatomy of Speculation in a Housing Market Boom. 3th Annual European Real Estate Society Conference Weimar, Germany.
  10. Lee, S., Andrew, M. and Devaney, S. (2003). Another Look at the Relative Importance of Sectors and Regions in Determining Property Returns. Dublin Research Symposium Dublin.

Journal articles (15)

  1. Andrew, M., Culley, J., Lux, N. and Skouralis, A. (2025). Climate Risk, insurance retreat and mortgage exposure: implications for UK households and housing finance. Housing Finance International, Summer 2025, pp. 27-34

    [publisher’s website]

  2. Skouralis, A., Lux, N. and Andrew, M. (2024). Does flood risk affect property prices? Evidence from a property-level flood score. Journal of Housing Economics, 66, pp. 102027-102027. doi:10.1016/j.jhe.2024.102027

    [publisher’s website]

  3. Andrew, M. and Larceneux, F. (2018). The role of emotion in a housing purchase: An empirical analysis of the anatomy of satisfaction from off-plan apartment purchases in France. Environment and Planning A: Economy and Space. doi:10.1177/0308518X18817539

    [publisher’s website]

  4. Andrew, M. (2012). Regional market size and the housing market: Insights from a new economic geography model. Journal of Property Research, 29(4), pp. 298-323. doi:10.1080/09599916.2012.717101

    [publisher’s website]

  5. Andrew, M. (2012). The changing route to owner-occupation: The impact of borrowing constraints on young adult homeownership transitions in Britain in the 1990s. Urban Studies, 49(8), pp. 1659-1678. doi:10.1177/0042098011417905

    [publisher’s website]

  6. Mark, A., Bramley, L., White, and Andrew, M. (2012). Sub-Regional Housing Market Modelling: Spatial Dimensions of Housing and Labour Market Interactions. Urban Studies
  7. Andrew, M. (2010). The changing route to owner occupation: The impact of student debt. Housing Studies, 25(1), pp. 39-62. doi:10.1080/02673030903361656

    [publisher’s website]

  8. Meen, G. and Andrew, M. (2008). Planning for housing in the post-Barker era: Affordability, household formation, and tenure choice. Oxford Review of Economic Policy, 24(1), pp. 79-98. doi:10.1093/oxrep/grn010

    [publisher’s website]

  9. Andrew, M. and Meen, G. (2006). Population structure and location choice: A study of London and South East England. Papers in Regional Science, 85(3), pp. 401-419
  10. Andrew, M., Haurin, D. and Munasib, A. (2006). Explaining the Route to Owner Occupation: A Transatlantic Comparison. Journal of Housing Economics, 15(3), pp. 189-216
  11. Andrew, M. (2004). A permanent change in the route to owner occupation? Scottish Journal of Political Economy, 51(1), pp. 24-48
  12. Andrew, M. and Meen, G. (2004). On the use of policy to reduce housing market segmentation. Regional Science and Urban Economics, 34(6), pp. 727-751
  13. Andrew, M. and Meen, G. (2003). House Price Appreciation, Transactions and Structural Change in the British Housing Market: A Macroeconomic Perspective. Real Estate Economics, 31(1), pp. 99-116
  14. Andrew, M. and Meen, G. (2003). Housing Transactions and the Changing Decisions of Young Households in Britain: The Microeconomic Evidence. Real Estate Economics, 31(1), pp. 117-138
  15. Andrew, M. and Meen, G. (1998). On the Aggregate Housing Market Implications of Labour Market Change. Scottish Journal of Political Economy, 45(4), pp. 393-419

Reports (10)

  1. Andrew, M. (2023). Leasehold reform proposals in England and Wales: the unconsidered financial implications of reducing the premium in lease extensions. UK: UK Collaborative Centre for Housing Evidence.
  2. Andrew, M., Bramley, G., Leishman, C. and White, M. (2010). Final Report On The Feasibility of Modelling Subregional Affordability. The National Housing and Planning Advice Unit NHPAU.
  3. Andrew, M., Bramley, G., Leishman, C. and White, M. (2009). Framework for Modlling Subregional Housing Affordability. NHPAU.
  4. Andrew, M., Bramley, G., Leishman, C. and White, M. (2009). SUB-REGIONAL HOUSING MARKET MODELS. National Housing Planning and Advice Unit NHPAU.
  5. Andrew, M., Meen, G., Kasparova, D., Wood, G., Ball, M., Goody, J.... Pyrce, G. (2008). Recent Developments in the Communities and Local Government Affordability Model. Wetherby, West Yorkshire: Communities and Local Government Publications. ISBN 9781409801801.
  6. Andrew, M. (2006). Housing Tenure Choices by the Young..
  7. Andrew, M., Meen, G. and Others, (2005). Affordability targets: Implications for Housing Supply, Technical Appendix. OPDM Publications.
  8. Andrew, M., Evans, A., Koundouri, P. and Meen, G. (2003). Residential stamp duty: Time for a change..
  9. Andrew, M., Devaney, S. and Lee, S. (2003). Another Look at the Relative Importance of Sectors and Regions in Determining Property Returns. Henley Business School, Reading University.
  10. Meen, G. and Andrew, M. (1998). Modelling Regional House Prices: A Review of the Literature..

Working papers (6)

  1. Skouralis, A., Lux, N. and Andrew, M. Does flood risk affect property prices? Evidence from a property-level flood score.
  2. Andrew, M. and Culley, J. (2024). Housing Tenure Outcomes of Young Adults in England Since 2000: Reviewing the Evidence. London, UK
  3. Andrew, M. and Culley, J. Leasehold Reform Proposals in England and Wales: The unintended consequences of proposals to reduce the premium in short leasehold extensions.
  4. Andrew, M., Culley, J. and Sleptcovac, M. Leasehold extensions: The Relativity conundrum and the time value of housing.
  5. Andrew, M. (2006). The Change in the Route to Owner Occupation: The Role of Transactions Costs. Reading, UK: University of Reading.
  6. Andrew, M., Franus, T. and Culley, J. Valuation of leasehold extensions in England.

Other (2)

  1. Andrew, M. and Culley, J.(2024). Leasehold Reform Bill: Written evidence submitted by Dr Mark Andrew and Dr James Culley (LFRB23).

    [UK Parliament]

  2. Andrew, M.(2011). The International Encyclopedia of Housing and Home.

Education

Course Directorship

- 2014 - present, MSc Real Estate, Course Director
-2016 - present MSc Real Estate Admissions Tutor

Professional activities

Collaboration (industrial)

  1. Partner of Knight Frank Formal Collaboration project (February 2022 - present)
    Sponsored by Knight Frank LLP
    Other partners: Dr. James Culley

Collaborations (academic) (3)

  1. Partner of Sub-Regional Housing Affordability project (October 2011 - October 2012)
    Sponsored by NHPAU
    Other partners: Herriott Watt University
  2. Partner of Modelling the Earnings Distribution project (October 2007 - present)
    Sponsored by CLG
    Other partners: Reading University, Other universities
  3. Partner of Communities and Local Government Affordability Model project (October 2005 - present)
    Sponsored by Communities and Local Government
    Other partners: Reading University (lead partner), various universities

Editorial activity (10)

  1. Turkish Central Bank Discussion Paper Series, Referee, 2012.
  2. Journal of Urban Affairs, Referee, 2011 - present.
  3. Spatial Economic Analysis, Referee, 2010 - present.
  4. Papers in Regional Science, Referee, 2008 - present.
  5. Oxford Economic Papers, Referee, 2007 - present.
  6. Housing Studies, Referee, 2005 - present.
  7. Urban Studies, Referee, 2002 - present.
  8. Real Estate Finance and Economics, Referee, 2002 - present.
  9. Journal of Housing Economics, Referee, 2001 - present.
  10. Real Estate Economics, Referee, 2001 - present.

Events/conferences (14)

  1. University of Reading Seminar Series. (Seminar) (2012). Invited speaker.
    Paper: Role of Commuting in Linking Local Housing Markets
    Author: Andrew M
  2. University of Reading Seminar Series. (Seminar) (2012). Invited speaker.
    Paper: Role of Commuting in Linking Local Housing Markets
    Author: Andrew M
  3. European Network for Housing Research. (Conference) (2012).
    Paper: Role of Commuting in LInking Local Housing Markets
    Author: Andrew M
  4. NHPAU Steering Group Meeting and Expert Panel. (Workshop) London (2010). Invited speaker.
    Paper: Final Report
    Author: Andrew M
    Co-authors: Bramely G, Leishman C, White M
  5. European Regional Science Association. (Conference) Sweden (2010).
    Paper: Modelling Housing Affordability at the Subregional Level
    Author: Andrew M
    Co-authors: Bramley G, Leishman C, White M
  6. NHPAU Steering Group Meeting and Expert Panel. (Seminar) London (2009). Invited speaker.
    Paper: Findings for Modelling Housing Affordability at the Subregional Level
    Author: Andrew M
    Co-authors: Bramely G, Leishman C, White M
  7. Pacific Rim Conference. (Conference) (2009).
    Paper: An Anatomy of Speculation in a Housing Market Boom
    Author: Andrew M
    Co-authors: Alan Evans
  8. AREUEA. New Orleans (2008). Chair
  9. IREBS Symposium. (Seminar) Regensburg, Germany (2008). Invited speaker.
    Paper: The Changing Route to Owner Occupation: The Impact of Household Formation and Borrowing Constraints on Young Adult Homeownership in Britain
    Author: Andrew M
  10. Property Upturns and Downturns. (Workshop) London (2008). Invited speaker.
    Paper: The Homeownership Market
    Author: Andrew M
  11. ERES. (Conference) London (2007).
    Paper: The Anatomy of Speculation: A National Analysis
    Author: Andrew M
    Co-authors: A Evans
  12. (Seminar) York (2006). Invited speaker.
    Paper: The Change in the Route to Owner Occupation: The Role of Transactions Costs
    Author: Andrew M
  13. International AREUEA/ASRES. (Conference) Vancouver (2006).
    Paper: Explaining the Route to Owner Occupation: The Role of Transactions Costs
    Author: Andrew M
    Co-authors: M White
  14. University College Dublin Research Symposium. (Conference) Dublin (2003). Invited speaker.
    Paper: Another Look at the Relative Importance of Sectors and Regions in Determining Property Returns
    Author: Andrew M
    Co-authors: S Devaney, S Lee