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The decomposition of housing market variations : a panel data approach

journal contribution
posted on 2010-01-01, 00:00 authored by Le MaLe Ma, Chunlu LiuChunlu Liu
Purpose – This paper develops a new decomposition method of the housing market variations to analyse the housing dynamics of the Australian eight capital cities.
Design/methodology/approach – This study reviews the prior research on analysing the housing market variations and classifies the previous methods into four main models. Based on this, the study develops a new decomposition of the variations, which is made up of regional information, homemarket information and time information. The panel data regression method, unit root test and F test are adopted to construct the model and interpret the housing market variations of the Australian capital cities.
Findings – This paper suggests that the Australian home-market information has the same elasticity to the housing market variations across cities and time. In contrast, the elasticities of the regional information are distinguished. However, similarities exit in the west and north of Australia or the south and east of Australia. The time information contributes differently along the observing period, although the similarities are found in certain periods.
Originality/value – This paper introduces the housing market variation decomposition into the research of housing market variations and develops a model based on the new method of the housing market variation decomposition.

History

Journal

International journal of housing markets and analysis

Volume

3

Issue

1

Pagination

6 - 16

Publisher

Emerald Group Publishing

Location

Bingley, England

ISSN

1753-8270

eISSN

1753-8289

Language

eng

Notes

Reproduced with the kind permission of the copyright owner.

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2010, Emerald Group Publishing

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