Role
Dr Alla Koblyakova leads Property Finance and Investment Course in the School of Architecture, Design and the Built Environment at Å·ÃÀ¾ÞÈé. Alla designs and delivers several modules which are the core subjects of the SADBE’s RICS professional accreditation, at both undergraduate and postgraduate levels. She supervises PhD, PG and master students in the field of Real Estate Economics and Real Estate Finance, covering areas of housing and mortgage market economics, affordability, housing policy, efficiency of mortgage markets, and financial regulation. Alla conducts internationally collaborative and her own research with REF 2014 and REF 2021 submissions.
Alla also works for the Centre of the Built Environment. She is an expert in mortgages, housing affordability and interest rates pricing setting. Alla leads a number of international research projects also conducting housing policy research. Currently Alla works with the Central Statistical Bureau, State of Israel, Task Transparency Force and Fair Banking Parliamentary Group UK, focusing on housing and mortgage affordability, fair banking, mortgage pricing and efficiency of the mortgage markets. Currently Alla works on a number of international research projects in collaboration with academics and policy makers from the UK, Australia, Japan, and Israel. These include “Spatial Disparities in HH debt”, “Housing Affordability Gap”, “Fair Mortgage Rates” and “Efficiency of Affordable Housing Policy”.
Career overview
Prior to joining NTU, Alla worked in the University of Aberdeen Business School. From her academic and financial industry background, she developed a wide range of research interests including mortgage pricing, efficiency of housing policy, capital macro-economics, microfinance, financial economics, econometrics and applied economics. While working in the financial industry she led the introduction of a new methodology for obligatory papers appraisal, applied by a number of major industry players from EACU members. Her research is grounded in financial economics, also involving techniques and perspectives from several related disciplines including empirical modelling, econometrics, and housing/mortgage policy analysis.
Qualifications
- PhD In Real Estate
- MBA in Business and Real Estate
- MSc in Management and Finance
- MSc in Civil Engineering
- BSc in Economics
Additional Qualifications
Fellow of the HEA (Certificate PRI2658).
PhD Students
Muftah Malek: Housing and Mortgage Affordability in the Middle-East Countries.
Jenhatakarnkij Kittitah: The Determinants of Condominium House Prices in Bangkok.
Liming Yao: House price appreciation and housing policy: a study of housing affordability and tenure choice in China.
Justine Wang: House Price Dynamics and Property Bubble Analysis in Australia and China. External Supervisor (Macquarie University, Sydney).
Research areas
Research Projects
Alla’s research contributed to the REF 2014 and REF 2021 UoA 13 NTU submissions. Her current projects focus upon policy impact studies, including new Housing Affordability Index/Matrix, Spatial Disparities in Household Debt, Equity Release Mortgages, Fair Interest rates, and Unfair Mortgage Pricing. Alla’s pioneering research contributes to the deeper understanding of households' mortgage decisions, housing affordability issues and effectiveness of the affordable housing policy initiatives, providing empirical evidence of the regionally asymmetric distribution of mortgage risks and inequality in accessibility to mortgage funds within the mortgage market.
Alla’s works also address mass appraisal issues, suggesting innovative valuation modelling technique applicable to the housing sector in Israel. Her research also contributes to the understanding of differences between the UK's, Japanese, Israeli and Australian housing/mortgage markets, exploring efficiency and affordability of the mortgage/housing systems.
External activity
Scientific Journals: Peer Review
Alla reviews articles in several academic journals, including the Journal of Housing and the Built Environment, Land Use Policy, Environment and Planning A, Housing Policy Debate, the Statistical Journal of the IAOS, the Journal of Risk and Financial Management, the Å·ÃÀ¾ÞÈé Journal of Financial Studies, the Å·ÃÀ¾ÞÈé Journal of Housing Markets and Analysis.
External Appointments
Honoured research associate at the University of Aberdeen Business School (since 2014).
Adjunct PhD supervisor at Macquarie University, Sydney, Australia.
External Funding
Principal Investigator - Consultancy Report: Retail Mortgages in the UK: Lending Strategies and Borrowers' Issues (funded by the ME Groups Holdings Ltd).
Co-Investigator - Ministry of Education Science and Technology, Japan, Research Grant in Aid 235530257: Cross-country differences in mortgage markets: Japan, Australia, and the UK.
Publications
Publications
Recent Journal Papers
Hutchison, N.E., Koblyakova, A. and MacGregor, B.D. (2024) Equity Release Mortgages in the UK: Regional Characteristics of Demand and Supply. Å·ÃÀ¾ÞÈé Real Estate Review, 27 (4), pp.441-469.
Hutchison, N.E., Tiwari, P., Koblyakova, A., Green, D. and Tan, Y.L. (2024) Spatial disparity in household indebtedness across the UK. Journal of European Real Estate Research, 17 (3), pp.431-451.
Koblyakova, A., Fleishman, L. and Furman, O. (2022) Accuracy of Households’ Dwelling Valuations, Housing Demand and Mortgage Decisions: Israeli Case, The Journal of Real Estate Finance and Economics, 65,.48–74.
Fleishman, L., Gubman, Y. and Koblyakova, A. (2021) Valuation Modelling within Thin Housing Markets Case Study: Arab Housing Market in Israel, Journal of Housing Research, 29-1, p. 34-53.
Naoi, M., Tiwari, P., Moriizumu, Y., Yukutake, N., Hutchison, N., Koblyakova, A., Rao, J. (2019) “Household Mortgage Demand: A study of the UK, Australia and Japan”, Å·ÃÀ¾ÞÈé Journal of Housing Markets and Analysis, 12:1, 110-130.
Wang, J., Koblyakova, A., Tiwari, P. and Croucher, J. (2018) Is the Australian Market in a Bubble? Å·ÃÀ¾ÞÈé Journal of Housing Markets and Analysis, 13-1.
Koblyakova, A. and White, M. (2017) “Supply Driven Mortgage Choice”, Urban Studies, 54:5, 1194 - 1210.
Koblyakova, A., Hutchison, N. and Tiwari, P. (2014) “Regional Differences in Mortgage Demand and Mortgage Instrument Choice in the UK”, Regional Studies, 48:9, 1499-1513.
Recent Conference Papers:
Equity Release Mortgages (with Hutchison, N. and MacGregor, B.D.), AsRes Annual Conference, Hong Kong, 13-17 July 2023.
Credit Constraints and Demand for Mortgage Debt (with White, M.), ERES Annual Conference, 12-15 July, 2023, London, UK.
Spatial Disparities in HH debt (with Hutchison, N., Tiwari, P., Green, D., Tan, J.) AREUEA 39 Annual Meeting, 20-23 March 2023, San Antonio, USA.
New Housing Affordability Metrics (with Fleishman, L. and D. Sayag), Israeli Economic Association Policy Conference, Tel Aviv, Israel, 16 June 2022.
Differences in Affordability Rates in the UK. (with Hutchison, N. and Tiwari, P.), Annual AREUEA AsRes Conference, 4-7 August 2022, Tokyo, Japan.
Housing Affordability Matrix (with Fleishman, L. and D. Sayag), Annual AREUEA AsRes Conference, 4-7 August 2022, Tokyo, Japan.
How Much Unaffordable Housing Can I Afford? (with Fleishman, L., Sayag, D.), ENHR Conference, 31 Aug.-2 Sep., 2022, Barcelona, Spain.
Efficiency of the HTB and Housing Affordability in the UK (Sole), ENHR Conference, 31 August-2 September 2022, Barcelona, Spain.
Koblyakova, A., White, M. Mapping Mortgage Affordability Rates in the UK. In AREUEA Conference, 24-26 June, 2019, Milan, Italy.
Fleishman, L., Koblyakova, A., Furman, O. Self-Reporting Dwelling Valuation and its effect on House Price Dynamics - Israeli Case. In AREUEA Conference, 24-26 June, 2019, Milan, Italy.
Subjective motives in households housing finance decisions in the UK (with Eccles, T.), Annual ENHR Conference, 27-30 August 2019, Athens, Greece.
Regional Differences in Lending Conditions in the UK (Sole), AREUEA Conference, 12-15 June 2018, Guangzhou, China.
Can Securitisation Rebalance Mortgage Market? (Sole), Annual ENHR Conference, 27-29 June 2018, Uppsala, Sweden.
Press coverage
Individual articles:
* The Daily Express, 10 November 2023
* The Conversation, 04 July 2023
* BBC News, 3 November 2022
*The Guardian, 3 November 2022
* This is Money, 23 September 2022
* Bloomberg, 2 September 2022
* The Times, 2 March, 2021
- Daily Mail, 34 December 2020: Banking Break up Proposal is ‘short sighted ‘despite it working for Margaret Thatcher
- Bloomberg, 13 September 2020:
- The Conversation, 29 January 2020:
- BBC Today 21 November 2018: Raising House Prices and Help to Buy Scheme
- The Daily Express, 23 March 2018
- The Daily Mail, 5 February 2018
East Midlands applicants most likely to be denied a mortgage:
- , 7 September 2017
- , 7 September 2017
- BBC East Midlands Today, 8 September 2017
- BBC Radio Å·ÃÀ¾ÞÈé, 8 September 2017
- BBC Radio Leicester, 11 September 2017
- The Sun, 7 September 2017
- BBC Breakfast (East Midlands), 8 September 2017
Variable mortgages make UK market more volatile, study shows:
- Mortgage Finance Gazette
- BBC News TV
'New-build homes aren't the answer to rising house prices':
- What Mortgage
'Are you paying over the odds for your mortgage?':
'Securitisation can be good for borrowers':
- , 17 February 2016
- , 16 February 2016
- , 16 February 2016
'North-South Divide Shows Risks posed by Rate Rise':
- , 9 April 2014
- , 8 April 2014
Press expertise
- Mortgage Pricing
- Households financial choices
- Housing Finance questions
- Affordability Issues
- Households indebtedness
- Housing policy
- Financial regulation
- Macroeconomic stability
- Monetary policy changes
- Efficiency of the banking system
- Securitisation
- Residential Investment
Press
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NEWS
6 February 2025New research shows that people over the age of 55 are increasingly choosing to cash in on the equity in their homes to release funds for purchases like luxury holidays.
ntu.ac.uk/about-us/news/news-articles/2025/02/equity-release-doubled-in-the-uk-with-holidays-a-major-factor-study-shows