This paper defines a measure of net housing demand or supply which allows the calculation of a long, high frequency … implies a net oversupply. Supply is defined as the available dwelling stock. Demand is calculated from the long term trend in … series is easily and inexpensively replicable. We formulate this measure as excess demand. A negative excess demand figure …

that are especially useful, namely price-to-rent ratios, the business confidence at the national level, and consumer …

We construct rent-price ratios for houses and units in 82 local government areas in the Sydney and Melbourne markets … for the period 1985/86-2015. Using this annual data we employ long-horizon regression techniques and find that rent … the rent-price ratio implied by the present-value model, we find that variation in rental yields of units in Sydney is …

We conduct a comprehensive international study of predictability in housing markets using the rent-price ratio as a …-premia, but we also document two puzzles. First, there is a highly unstable predictive pattern in rent growth across countries and …