liu-identifyinghouse-2008.pdf (336.29 kB)
Identifying house price diffusion patterns among Australian state capital cities
journal contribution
posted on 2008-12-01, 00:00 authored by Chunlu LiuChunlu Liu, Z Luo, Le MaLe Ma, David PickenPrior 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.
History
Journal
International journal of strategic property managementVolume
12Issue
4Pagination
237 - 250Publisher
Vilniu Gediminas Technical UniversityLocation
Vilnius, LithuaniaPublisher DOI
ISSN
1648-715XeISSN
1648-9179Language
engNotes
Reproduced with the kind permission of the copyright owner.Publication classification
C1 Refereed article in a scholarly journal; C Journal articleCopyright notice
2008, Vilnius Gediminas Technical UniversityUsage metrics
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