Please use this identifier to cite or link to this item:
Title: Climbing the property ladder: An analysis of market integration in London property prices
Authors: Holmes, Mark J.
Otero, Jesús
Panagiotidis, Theodore
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business
Keywords: Cointegration
house prices
Issue Date: 2018
Publisher: Sage
Source: Urban Studies
Volume: 55
Issue: 12
First Page: 2660
Last Page: 2681
Abstract: We investigate the long-run convergence of house prices across the London boroughs based on a pairwise unit root probabilistic testing procedure. In sharp contrast to the earlier literature, we employ a dataset that distinguishes between four different types of property in each borough. Using a quarterly dataset that spans from 1995 to 2014, we find evidence in favour of long-run convergence thereby suggesting that the great majority of London borough house prices are driven by a single common stochastic trend. In a further contribution, we offer new insights through analysing the determinants of long-run convergence, by considering the role of geographic proximity, type of accommodation and amenities (quality of life).
ISSN: 0042-0980
Other Identifiers: 10.1177/0042098017692303
Appears in Collections:Department of Economics

Files in This Item:
File Description SizeFormat 
urban studies_ 2018.pdf1,39 MBAdobe PDFView/Open

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.