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Understanding cange in residential property markets: Mapping residency of employment data

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journal contribution
posted on 2004-01-01, 00:00 authored by Richard Reed, C Pettit
The changing nature of residential housing markets is due to a large number of influences, although some have a larger effect than others do on house values. Whilst it is extremely difficult to completely disaggregate all influencing factors, it is possible to highlight areas that have a strong relationship with property – one of these is residency of employment. This research investigates these links between residential housing markets as measured by the level of house prices and residency of employment as measured by industry sector employment. It focuses on Local Government Areas in the State of Victoria, Australia and examines change over a ten year period between 1991 and 2001 using census and house price information. It is supported by data sourced from the Australian Bureau of Statistics and the Victorian Government’s Valuer General’s Office. The analysis also considers changes in these employment sectors from Australia’s overall perspective, as well as comparison with changes in Victoria’s overall residency of employment trends. It is assisted by a spatial representation of three 'shift-share' components and property values with the support of a geographical information system (GIS).

History

Journal

Pacific Rim property research journal

Volume

10

Issue

3

Pagination

353 - 374

Publisher

Pacific Rim Real Estate Society

Location

Sydney, N.S.W.

ISSN

1444-5921

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

2004, Pacific Rim Real Estate Society

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