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The relationship between house prices and demographic variables: an Australian case study

Reed, Richard 2016, The relationship between house prices and demographic variables: an Australian case study, International journal of housing markets and analysis, vol. 9, no. 4, pp. 520-537, doi: 10.1108/IJHMA-02-2016-0013.

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Title The relationship between house prices and demographic variables: an Australian case study
Author(s) Reed, RichardORCID iD for Reed, Richard orcid.org/0000-0002-7560-2941
Journal name International journal of housing markets and analysis
Volume number 9
Issue number 4
Start page 520
End page 537
Total pages 18
Publisher Emerald Group Publishing
Place of publication Bingley, Eng.
Publication date 2016
ISSN 1753-8270
Keyword(s) Australia
Housing
Housing prices
Residential property
Real estate
Demography
Summary Purpose – The process for examining the value of house prices in an urban city has given limited attention, if any, to demographic variables associated with urban geography. Although the disciplines of property/real estate and demography have moved closer, little progress has been made when modelling house prices using population-related data in the field of urban geography to explain the level of house prices.

Design/methodology/approach – This paper proposes an innovative model to examine the influence of population variables on the level of house prices. It used a two-stage approach as follows: principal components analysis (PCA) identified social dimensions from a range of demographic variables, which were then retained for further analysis. This information was sourced from two Australian Bureau of Statistics censuses undertaken involving all Melbourne residents during 1996, 2001, 2006 and 2011; multiple regression analysis examined the relationship between the retained factor scores from the PCA (as independent variables) and established residential house prices (as the dependent variable).

Findings – The findings confirm the demographic profile of each household, which is directly related to their decisions about housing location and house prices. Based on a case study of Melbourne, Victoria, it was demonstrated that households with specific demographic characteristics are closely related to a certain level of house prices at the suburban level.

Originality/value – This is an innovative study which has not been previously undertaken for an extended period of time to facilitate an analysis of change over time.
Language eng
DOI 10.1108/IJHMA-02-2016-0013
Field of Research 150403 Real Estate and Valuation Services
12 Built Environment And Design
15 Commerce, Management, Tourism And Services
14 Economics
Socio Economic Objective 900299 Property
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2016, Emerald Group Publishing
Persistent URL http://hdl.handle.net/10536/DRO/DU:30090405

Document type: Journal Article
Collection: Deakin Graduate School of Business
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