Seasonality and cointegration of regional house prices in the UK

Alexander, Carol and Barrow, Michael (1994) Seasonality and cointegration of regional house prices in the UK. Urban Studies, 31 (10). pp. 1667-1689. ISSN 0042-0980

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Abstract

The data generation process underlying regional house prices in the UK is investigated using new statistical tests. It is found that causal flows tend to be northwards: the South East (rather than Greater London) acts as an exogenous price determinator of the other regions in the south; the Midland regions have a great influence on prices in the north and flows through the East Midlands are characterised by bi-directional causality. These results are largely independent of assumptions made about the data generation process (and tests of these assumptions have low power in any case). There are also similarities between this causality and migration patterns, particularly in the south of England.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Business and Management
Subjects: H Social Sciences > HB Economic theory. Demography > HB0221 Price
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Depositing User: Carol Alexander
Date Deposited: 10 Sep 2012 13:23
Last Modified: 10 Sep 2012 13:23
URI: http://sro.sussex.ac.uk/id/eprint/40600
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