SPATIAL EFFECT OF MARKET SENTIMENT ON HOUSING PRICE: EVIDENCE FROM SOCIAL MEDIA DATA IN CHINA Li, J, Wang, Y and Liu, Chunlu 2022, SPATIAL EFFECT OF MARKET SENTIMENT ON HOUSING PRICE: EVIDENCE FROM SOCIAL MEDIA DATA IN CHINA, International Journal of Strategic Property Management, vol. 26, no. 1, pp. 72-85, doi: 10.3846/ijspm.2022.16255. Attached Files Name Description MIMEType Size Downloads Title SPATIAL EFFECT OF MARKET SENTIMENT ON HOUSING PRICE: EVIDENCE FROM SOCIAL MEDIA DATA IN CHINA Author(s) Li, J Wang, Y Liu, Chunlu orcid.org/0000-0003-1144-4355 Journal name International Journal of Strategic Property Management Volume number 26 Issue number 1 Start page 72 End page 85 Total pages 14 Publisher Taylor & Francis Place of publication London, Eng. Publication date 2022 ISSN 1648-715X 1648-9179 Keyword(s) housing price market sentiment sentiment analysis social media spatial Durbin model spatial effect Social Sciences Management Business & Economics REAL-ESTATE INVESTOR SENTIMENT FUNDAMENTALS RETURNS PREDICT Summary Market sentiment has become more easily spread between cities through social media. This study investigates the spatial effect of market sentiment on housing price in a social media environment. In order to extract home-buyer sentiment from social media, we use text sentiment analysis techniques and build a novel housing market sentiment index. A spatial econometric model of housing price volatility is subsequently constructed and the housing market sentiment index is included as an independent variable in the model. Using panel data from 30 large and medium-sized cities in China for 20 quarters from 2016 to 2020, the spatial effect of market sentiment on housing price is empirically analyzed by calculating direct and indirect effects. The results show that market sentiment had a significant positive effect on housing prices in the local and neighboring cities over the research period. However, the impact of market sentiment on housing price was heterogeneous in terms of geographical region; the direct effect was stronger in the eastern region than in the central and western regions, and the indirect effect was significant only in the eastern region. These findings can provide references for government to formulate housing market regulation policies and measures based on market sentiment. DOI 10.3846/ijspm.2022.16255 Field of Research 1504 Commercial Services HERDC Research category C1 Refereed article in a scholarly journal Free to Read? Yes Persistent URL http://hdl.handle.net/10536/DRO/DU:30162538 Document type: Journal Article Collections: Faculty of Science, Engineering and Built Environment School of Architecture and Built Environment Open Access Collection Related Links Link Description Link to full-text (open access)   Connect to published version Go to link with your DU access privileges   Connect to Elements publication management system Go to link with your DU access privileges     Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved. Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au. Versions Version Filter Type Wed, 16 Feb 2022, 08:10:56 EST Wed, 16 Feb 2022, 08:11:41 EST Wed, 16 Feb 2022, 16:01:23 EST Wed, 16 Feb 2022, 16:10:32 EST Wed, 23 Mar 2022, 10:07:14 EST Wed, 23 Mar 2022, 15:21:29 EST Wed, 23 Mar 2022, 15:29:30 EST Fri, 08 Apr 2022, 14:37:34 EST Filtered Full Citation counts:   Cited 0 times in TR Web of Science Cited 0 times in Scopus Search Google Scholar Access Statistics: 14 Abstract Views, 2 File Downloads  -  Detailed Statistics Created: Wed, 16 Feb 2022, 08:11:41 EST