Synchronisation and commonalities in metropolitan housing market cycles

Akimov, A., Stevenson, S. and Young, J. (2015) Synchronisation and commonalities in metropolitan housing market cycles. Urban Studies, 52 (9). pp. 1665-1682. ISSN 1360-063X doi: 10.1177/0042098014535643

Abstract/Summary

This paper examines the degree of commonalities present in the cyclical behavior of the eight largest metropolitan housing markets in Australia. Using two techniques originally in the business cycle literature we consider the degree of synchronization present and secondly decompose the series’ into their permanent and cyclical components. Both empirical approaches reveal similar results. Sydney and Melbourne are closely related to each other and are relatively segmented from the smaller metropolitan areas. In contrast, there is substantial evidence of commonalities in the cyclical behavior of the remaining cities, especially those on the Eastern and Southern coasts of Australia.

Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/40905
Item Type	Article
Refereed	Yes
Divisions	Henley Business School > Real Estate and Planning
Uncontrolled Keywords	common cycles, decomposing cycles and trends, house price diffusion, metropolitan housing markets, permanent and transitory components
Publisher	Sage
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