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Identifying house price diffusion patterns among Australian state capital cities

Liu, Chunlu, Luo, Zhen Qiang, Ma, Le and Picken, David 2008, Identifying house price diffusion patterns among Australian state capital cities, International journal of strategic property management, vol. 12, no. 4, pp. 237-250.

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Title Identifying house price diffusion patterns among Australian state capital cities
Author(s) Liu, Chunlu
Luo, Zhen Qiang
Ma, Le
Picken, David
Journal name International journal of strategic property management
Volume number 12
Issue number 4
Start page 237
End page 250
Publisher Vilniu Gediminas Technical University
Place of publication Vilnius, Lithuania
Publication date 2008-12
ISSN 1648-715X
Summary Prior research supports the proposition that house price diffusion shows a ripple effect along the spatial dimension. That is, house price changes in one region would reflect in subsequent house price changes in other regions, showing certain linkages among regions. Using the vector autoregression model and the impulse response function, this study investigates house price diffusion among Australia's state capital cities, examining the response of one market to the innovation of other markets and determining the lagged terms for the maximum absolute value of the other markets' responses. The results show that the most important subnational markets in Australia do not point to Sydney, rather towards Canberra and Hobart, while the Darwin market plays a role of buffer. The safest markets are Sydney and Melbourne. This study helps to predict house price movement trends in eight capital cities.
Notes Reproduced with the kind permission of the copyright owner.
Language eng
Field of Research 150403 Real Estate and Valuation Services
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
HERDC collection year 2008
Copyright notice ©2008, Vilnius Gediminas Technical University
Persistent URL http://hdl.handle.net/10536/DRO/DU:30017374

Document type: Journal Article
Collections: School of Architecture and Built Environment
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