Utilising a selection of 10 urban area data sets in New Zealand for the period 1994--2004, we examine local house price co‐movements by using various house price indexing approaches, at a monthly level. Applying the Granger causality test based on a vector error correction model (VECM), where...

The sale price appraisal ratio (SPAR) method, which takes the ratios of the current house prices and their previous assessed values to construct an index, has been applied in New Zealand since the 1960s. This paper uses housing market transaction data for 12 cities in New Zealand (1994-2004) to...

This paper studies how commodity price movements have affected the local house prices in commodity-dependent economies, Australia and New Zealand. We build a geographically hierarchical empirical model and find the commodity prices influence local house prices directly and also indirectly...

There was a problem for the effectiveness of monetary policy by setting OCR changes to influence house price movements. We find that the announced OCR changes had a close link to the floating or short-term mortgage rate changes, and in contrast house price movements were linked to long-term...

This paper studies how commodity price movements have affected the local house prices in commodity-dependent economies, Australia and New Zealand. We build a geographically hierarchical empirical model and find that the commodity prices influence local house prices directly and also indirectly...

This paper studies how commodity price movements have affected local house prices in commodity-dependent economies, Australia and New Zealand. We build a geographically hierarchical empirical model and find that commodity prices influence local house prices directly and also indirectly through...

This paper investigates how changes in the central bank policy and retail mortgage rates affected real housing prices in New Zealand during the period 1999–2009. We find that real interest rates are significantly and positively related to real housing prices, indicating that increases in the...

This paper proposes an improved net rate analysis using the assessed land values to proxy market land values in real estate appraisals. Compared to the traditional sales comparison approach, the method has greatly simplified the comparison process and extended the potential pool of comparable...