Climbing the property ladder: An analysis of market integration in London property prices

Mark J. Holmes, Jesús Otero, Theodore Panagiotidis

Resultado de la investigación: Contribución a una revistaArtículorevisión exhaustiva

8 Citas (Scopus)

Resumen

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).

Idioma originalInglés estadounidense
Páginas (desde-hasta)2660-2681
Número de páginas22
PublicaciónUrban Studies
Volumen55
N.º12
DOI
EstadoPublicada - sep 1 2018

All Science Journal Classification (ASJC) codes

  • Ciencias ambientales (miscelánea)
  • Estudios urbanos

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