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

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 quar...

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Autores Principales: Holmes, Mark J, Panagiotidis, Theodore, Otero, Jesus
Formato: Artículo (Article)
Lenguaje:Inglés (English)
Publicado: SAGE Publications Ltd 2018
Materias:
Acceso en línea:https://repository.urosario.edu.co/handle/10336/23420
https://doi.org/10.1177/0042098017692303
id ir-10336-23420
recordtype dspace
spelling ir-10336-234202022-05-02T12:37:21Z Climbing the property ladder: An analysis of market integration in London property prices Holmes, Mark J Panagiotidis, Theodore Otero, Jesus Amenity Convergence Data set Housing market Probability Property market Quality of life England London [england] United kingdom Cointegration Convergence House prices Pairwise 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). © Urban Studies Journal Limited 2017. 2018 2020-05-26T00:01:53Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 00420980 1360063X https://repository.urosario.edu.co/handle/10336/23420 https://doi.org/10.1177/0042098017692303 eng info:eu-repo/semantics/openAccess application/pdf SAGE Publications Ltd instname:Universidad del Rosario
institution EdocUR - Universidad del Rosario
collection DSpace
language Inglés (English)
topic Amenity
Convergence
Data set
Housing market
Probability
Property market
Quality of life
England
London [england]
United kingdom
Cointegration
Convergence
House prices
Pairwise
spellingShingle Amenity
Convergence
Data set
Housing market
Probability
Property market
Quality of life
England
London [england]
United kingdom
Cointegration
Convergence
House prices
Pairwise
Holmes, Mark J
Panagiotidis, Theodore
Otero, Jesus
Climbing the property ladder: An analysis of market integration in London property prices
description 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). © Urban Studies Journal Limited 2017.
format Artículo (Article)
author Holmes, Mark J
Panagiotidis, Theodore
Otero, Jesus
author_facet Holmes, Mark J
Panagiotidis, Theodore
Otero, Jesus
author_sort Holmes, Mark J
title Climbing the property ladder: An analysis of market integration in London property prices
title_short Climbing the property ladder: An analysis of market integration in London property prices
title_full Climbing the property ladder: An analysis of market integration in London property prices
title_fullStr Climbing the property ladder: An analysis of market integration in London property prices
title_full_unstemmed Climbing the property ladder: An analysis of market integration in London property prices
title_sort climbing the property ladder: an analysis of market integration in london property prices
publisher SAGE Publications Ltd
publishDate 2018
url https://repository.urosario.edu.co/handle/10336/23420
https://doi.org/10.1177/0042098017692303
_version_ 1740172425068281856
score 12,131701