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House Price Diffusion: An Application of Spectral Analysis to the Prices of Irish Second-Hand Dwellings

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  • David Gray

Abstract

The aim of this paper is to examine whether evidence for a ripple effect in house prices can be found across residential property markets of Irish cities. The house price dynamics are considered in the frequency domain using spectral analysis. This entails the estimation of power spectra, cospectrum, coherence, gain and phase of 'region-nation' relationships. The power spectrum highlights a dominant 6-year cycle, common to all of Ireland's city markets. Eire conforms to neither a city system nor a ripple thesis well. Dublin is a dominant node, whilst Dublin, Galway and Cork lead the national cycle, which is indicative of an olicentric city structure.

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  • David Gray, 2013. "House Price Diffusion: An Application of Spectral Analysis to the Prices of Irish Second-Hand Dwellings," Housing Studies, Taylor & Francis Journals, vol. 28(6), pages 869-890, September.
    • Handle: RePEc:taf:chosxx:v:28:y:2013:i:6:p:869-890
    DOI: 10.1080/02673037.2013.768335
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    Cited by:

    1. David Gray, 2020. "An international housing market in the British Isles: Evidence from business and medium-term cycles using a Friedman test," Urban Studies, Urban Studies Journal Limited, vol. 57(2), pages 307-322, February.
    2. David Gray, 2018. "An application of two non-parametric techniques to the prices of British dwellings: An examination of cyclicality," Urban Studies, Urban Studies Journal Limited, vol. 55(10), pages 2286-2299, August.

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