The role of housing inheritance in selected owner occupied societies (Britain, New Zealand, Canada)

Abstract

Abstract The paper examines the debate regarding housing inheritance and its impact upon wealth transfers within selected owner occupier societies (Britain, New Zealand and Canada). The examination of current research data show how tenure changes and house price movements in the 1970s and 1980s have resulted in greater accumulation of wealth within owner occupied housing. This increase in wealth raises the question of the disbursement of such wealth on death through bequeathing, and the impact this has upon the recipients social position and lifestyle. Here, the data from the selected societies show that most transfers are within the immediate family and occur in mid‐life when the recipients are already established in their own housing, thus minimising the impact on their lives and social positions. The second part of the paper presents data on the nature of gifts and inheritances within Canada drawn from the 1986 Housing Expenditure Survey. These data show that the amounts of money transferred vary by age, gender, family composition, income, occupation and tenure. In addition, regional differences across Canada were found. The paper argues for the need for further more qualitative based research to assess the full impact that such transfers play upon family relationships, social class position and lifestyles.