Property heterogeneity and convergence club formation among local house prices

"We investigate the extent of convergence club formation in local house prices. Our study is novel in a number of key ways. First, new insights are obtained through utilising a large disaggregated panel dataset comprising multiple types of housing (detached, semi-detached, terraced housing and...

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Autores Principales: Holmes M.J., Otero, Jesus, Panagiotidis T.
Formato: Artículo (Article)
Lenguaje:Inglés (English)
Publicado: Academic Press Inc. 2019
Materias:
Acceso en línea:https://repository.urosario.edu.co/handle/10336/22366
https://doi.org/10.1016/j.jhe.2018.09.002
id ir-10336-22366
recordtype dspace
spelling ir-10336-223662021-09-15T22:27:34Z Property heterogeneity and convergence club formation among local house prices Holmes M.J. Otero, Jesus Panagiotidis T. Clubs Convergence England and Wales House prices "We investigate the extent of convergence club formation in local house prices. Our study is novel in a number of key ways. First, new insights are obtained through utilising a large disaggregated panel dataset comprising multiple types of housing (detached, semi-detached, terraced housing and flats) for a very large sample of 348 England and Wales local authorities. Second, we analyse through probit estimation those factors that drive convergence club formation. Third, we also consider within-city club formation as well as club formation during periods of house price bubbles. Using a study period of more than two decades, we find the presence of divergence or multiple house price convergence clubs rather than a single club. While location, distance, income, population density, congestion and education are significant in explaining convergence club formation, housing type is also an important factor with convergence less likely among detached, semi-detached and terraced housing than among flats. © 2018 Elsevier Inc." 2019 2020-05-25T23:56:13Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 10960791 10511377 https://repository.urosario.edu.co/handle/10336/22366 https://doi.org/10.1016/j.jhe.2018.09.002 eng info:eu-repo/semantics/openAccess application/pdf Academic Press Inc. instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR
institution EdocUR - Universidad del Rosario
collection DSpace
language Inglés (English)
topic Clubs
Convergence
England and Wales
House prices
spellingShingle Clubs
Convergence
England and Wales
House prices
Holmes M.J.
Otero, Jesus
Panagiotidis T.
Property heterogeneity and convergence club formation among local house prices
description "We investigate the extent of convergence club formation in local house prices. Our study is novel in a number of key ways. First, new insights are obtained through utilising a large disaggregated panel dataset comprising multiple types of housing (detached, semi-detached, terraced housing and flats) for a very large sample of 348 England and Wales local authorities. Second, we analyse through probit estimation those factors that drive convergence club formation. Third, we also consider within-city club formation as well as club formation during periods of house price bubbles. Using a study period of more than two decades, we find the presence of divergence or multiple house price convergence clubs rather than a single club. While location, distance, income, population density, congestion and education are significant in explaining convergence club formation, housing type is also an important factor with convergence less likely among detached, semi-detached and terraced housing than among flats. © 2018 Elsevier Inc."
format Artículo (Article)
author Holmes M.J.
Otero, Jesus
Panagiotidis T.
author_facet Holmes M.J.
Otero, Jesus
Panagiotidis T.
author_sort Holmes M.J.
title Property heterogeneity and convergence club formation among local house prices
title_short Property heterogeneity and convergence club formation among local house prices
title_full Property heterogeneity and convergence club formation among local house prices
title_fullStr Property heterogeneity and convergence club formation among local house prices
title_full_unstemmed Property heterogeneity and convergence club formation among local house prices
title_sort property heterogeneity and convergence club formation among local house prices
publisher Academic Press Inc.
publishDate 2019
url https://repository.urosario.edu.co/handle/10336/22366
https://doi.org/10.1016/j.jhe.2018.09.002
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