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The Dynamics Of Uk National And Regional House Prices

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  • Moira Munro
  • Yong Tu

Abstract

In this paper, the Johansen cointegration technique is applied to modeling the dynamics of national and regional house prices. It is concluded that household income, real mortgage rate and housing completions are significant factors influencing house price changes at the national level. The underlying structure of the national market is investigated, showing that while price trends in some regions of the UK are strongly related by causal processes, others are relatively independent

Suggested Citation

  • Moira Munro & Yong Tu, 1996. "The Dynamics Of Uk National And Regional House Prices," Review of Urban & Regional Development Studies, Wiley Blackwell, vol. 8(2), pages 186-201, July.
    • Handle: RePEc:bla:revurb:v:8:y:1996:i:2:p:186-201
    DOI: 10.1111/j.1467-940X.1996.tb00117.x
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    Citations

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    Cited by:

    1. James McGibany & Farrokh Nourzad, 2004. "Do lower mortgage rates mean higher housing prices?," Applied Economics, Taylor & Francis Journals, vol. 36(4), pages 305-313.
    2. Chyi Lin Lee, 2009. "Housing price volatility and its determinants," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 2(3), pages 293-308, August.
    3. Ling Zhang & He Wang & Yan Song & Haizhen Wen, 2019. "Spatial Spillover of House Prices: An Empirical Study of the Yangtze Delta Urban Agglomeration in China," Sustainability, MDPI, vol. 11(2), pages 1-17, January.
    4. Alain Coën & Alexis Pourcelot & Richard Malle, 2022. "Macroeconomic shocks and ripple effects in the Greater Paris Metropolis," Post-Print hal-03713561, HAL.
    5. Gavin Cameron & John Muellbauer & Anthony Murphy, 2005. "Booms, Busts and Ripples in British Regional Housing Markets," Macroeconomics 0512003, University Library of Munich, Germany.
    6. Coën, Alain & Pourcelot, Alexis & Malle, Richard, 2022. "Macroeconomic shocks and ripple effects in the Greater Paris Metropolis," Journal of Housing Economics, Elsevier, vol. 56(C).
    7. Yong Tu, 2004. "The Dynamics of the Singapore Private Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 41(3), pages 605-619, March.
    8. Kim Hiang Liow, 2000. "The dynamics of the Singapore commercial property market," Journal of Property Research, Taylor & Francis Journals, vol. 17(4), pages 279-291.
    9. Giorgio Canarella & Stephen Miller & Stephen Pollard, 2012. "Unit Roots and Structural Change," Urban Studies, Urban Studies Journal Limited, vol. 49(4), pages 757-776, March.

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