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Housing price diffusion pattern of Australia's state capital cities

Luo, Zhen Qiang, Liu, Chunlu and Picken, David 2006, Housing price diffusion pattern of Australia's state capital cities, in Proceedings of the Second Megacities International Conference 2006, GuangZhou University, China, pp. 215-221.

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Title Housing price diffusion pattern of Australia's state capital cities
Author(s) Luo, Zhen Qiang
Liu, ChunluORCID iD for Liu, Chunlu
Picken, David
Conference name Megacities. International Conference (2nd : 2006 : GuangZhou, China)
Conference location GuangZhou, China
Conference dates 1 - 2 December 2006
Title of proceedings Proceedings of the Second Megacities International Conference 2006
Editor(s) Lau, Stephen
Publication date 2006
Conference series Megacities International Conference
Start page 215
End page 221
Total pages 7
Publisher GuangZhou University
Place of publication China
Keyword(s) ripple effect
house price diffusion
regional house prices
Summary The ripple effect of house prices within metropolitan areas has recently been recognised by researchers. However, it is very difficult to formulate and measure this effect using conventional house price theories particularly in consideration of the spatial locations of cities. Based on econometrics principles of the cointegration test and the error correction model, this research develops an innovative approach to quantitatively examine the diffusion patterns of house prices in mega-cities of a country. Taking Australia's eight capital cities as an example, the proposed approach is validated in terms of an empirical study. The results show that a 1-1-2-4 diffusion pattern exists within these cities. Sydney is on the top tier with Melbourne in the second; Perth and Adelaide are in the third level and the other four cities lie on the bottom. This research may be applied to predict the regional housing market behavior in a country.
Notes International Journal of Strategic Property Management
Language eng
Field of Research 150403 Real Estate and Valuation Services
Socio Economic Objective 970112 Expanding Knowledge in Built Environment and Design
HERDC Research category E1 Full written paper - refereed
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Document type: Conference Paper
Collection: School of Architecture and Built Environment
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