Modelling Price Movements in Housing Micro Markets: Identifying Long-Term Components in Local Housing Market Dynamics
This study identifies housing sub-markets (micro markets) that may be price leaders within local housing market areas and relates their performance to potentially relevant economic factors. This can be important as it provides both policy-makers and market players with a useful barometer regarding housing market behaviour. The study uses cointegration analysis to find those markets that interact with each other over the long run and isolates housing sub-markets that are not influenced by housing market behaviour elsewhere in the local urban economy. The study lays the basis for research aimed at identifying whether different housing markets respond to the same or to different economic stimuli. The research is likely to be of interest to policy-makers (such as town planners) as well as to developers and lending institutions.
Year of publication: |
2011
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Authors: | Wilson, Patrick ; White, Michael ; Dunse, Neil ; Cheong, Chee ; Zurbruegg, Ralf |
Published in: |
Urban Studies. - Urban Studies Journal Limited. - Vol. 48.2011, 9, p. 1853-1874
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Publisher: |
Urban Studies Journal Limited |
Saved in:
Online Resource
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