A panel regression method for quantifying the convergence of house prices
Ma, Le and Liu, Chunlu 2011, A panel regression method for quantifying the convergence of house prices, in AUBEA 2011 : Proceedings of the 36th Annual Conference for Australasian University Building Educators Association, AUBEA, [Gold Coast, Qld.], pp. 572-579.
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The convergence among house prices has attracted much attention from researchers. Previous research mainly utilised a time-series regression method to investigate convergences of house prices, which may ignore the heterogeneity of houses across cities. This research developed a panel regression method, by which the heterogeneity of house prices can be captured. Seemingly unrelated regression estimators were also adapted to deal with the contemporary correlations across cities. Investigation of the convergence among house prices in the Australian capital cities was carried out by using the developed panel regression method. Results suggested that house prices converge in Sydney, Adelaide and Hobart but diverge in Darwin.
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Field of Research
120201 Building Construction Management and Project Planning
Socio Economic Objective
870599 Building Management and Services not elsewhere classified
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