A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Housing price diffusion pattern of Australia's state capital cities
The ripple effect of house prices within metropolitan areas has recently been recognised by researchers. However, it is very difficult to formulate and measure this effect using conventional house price theories particularly in consideration of the spatial locations of cities. Based on econometrics principles of the cointegration test and the error correction model, this research develops an innovative approach to quantitatively examine the diffusion patterns of house prices in mega‐cities of a country. Taking Australia's eight capital cities as an example, the proposed approach is validated in terms of an empirical study. The results show that a 1–1–2–4 diffusion pattern exists within these cities. Sydney is on the top tier with Melbourne in the second; Perth and Adelaide are in the third level and the other four cities lie on the bottom. This research may be applied to predict the regional housing market behavior in a country. Būsto kainų pasiskirstymo struktūra Australijos valstijų sostinėse Santrauka Neseniai mokslininkainustatė, kad didmiesčiuose būsto kainos veikia vienos kitas (angl.rippleeffect). Tačiau ši poveiki itin sunku suformuluoti ir išmatuoti pasitelkusįprastasbūstokainųteorijas, ypačįvertinantteritorini miestuišsidėstymą. Remiantis ekonometrijos principais, tokiais kaipkointegracijosanalize ir klaidu taisymo modelis, šiame tyrime sukurtas novatoriškas būdas, kaip kiekybiškaityrinėtibūstokainųpasiskirstymo struktūras šalies didmiesčiuose. Kaippavyzdįpasirinkus aštuonias Australijosvalstijųsostines, siūlomas būdas patvirtinamas empiriniu tyrimu. Rezultatai rodo, kad šiu miestu pasiskirstymo struktūra yra 1–1–2–4.Sidnėjusužima aukščiausia pakopa, o Melburnas yra antrasis. Pertui ir Adelaidei tenka trečioji pakopa, o kiti keturi miestai yra žemiausiai. Šiuo tyrimu galima remtis prognozuojant regionines būsto rinkos elgsena kitose šalyse. First published online:18 Oct 2010
Housing price diffusion pattern of Australia's state capital cities
The ripple effect of house prices within metropolitan areas has recently been recognised by researchers. However, it is very difficult to formulate and measure this effect using conventional house price theories particularly in consideration of the spatial locations of cities. Based on econometrics principles of the cointegration test and the error correction model, this research develops an innovative approach to quantitatively examine the diffusion patterns of house prices in mega‐cities of a country. Taking Australia's eight capital cities as an example, the proposed approach is validated in terms of an empirical study. The results show that a 1–1–2–4 diffusion pattern exists within these cities. Sydney is on the top tier with Melbourne in the second; Perth and Adelaide are in the third level and the other four cities lie on the bottom. This research may be applied to predict the regional housing market behavior in a country. Būsto kainų pasiskirstymo struktūra Australijos valstijų sostinėse Santrauka Neseniai mokslininkainustatė, kad didmiesčiuose būsto kainos veikia vienos kitas (angl.rippleeffect). Tačiau ši poveiki itin sunku suformuluoti ir išmatuoti pasitelkusįprastasbūstokainųteorijas, ypačįvertinantteritorini miestuišsidėstymą. Remiantis ekonometrijos principais, tokiais kaipkointegracijosanalize ir klaidu taisymo modelis, šiame tyrime sukurtas novatoriškas būdas, kaip kiekybiškaityrinėtibūstokainųpasiskirstymo struktūras šalies didmiesčiuose. Kaippavyzdįpasirinkus aštuonias Australijosvalstijųsostines, siūlomas būdas patvirtinamas empiriniu tyrimu. Rezultatai rodo, kad šiu miestu pasiskirstymo struktūra yra 1–1–2–4.Sidnėjusužima aukščiausia pakopa, o Melburnas yra antrasis. Pertui ir Adelaidei tenka trečioji pakopa, o kiti keturi miestai yra žemiausiai. Šiuo tyrimu galima remtis prognozuojant regionines būsto rinkos elgsena kitose šalyse. First published online:18 Oct 2010
Housing price diffusion pattern of Australia's state capital cities
Luo, Zhen Qiang (author) / Liu, Chunlu (author) / Picken, David (author)
2007-12-31
doi:10.3846/1648715X.2007.9637571
International Journal of Strategic Property Management; Vol 11 No 4 (2007); 227-242 ; 1648-9179 ; 1648-715X
Article (Journal)
Electronic Resource
English
DDC:
720
Changes in poverty in Australia's mainland capital Cities
| Taylor & Francis Verlag | 1987
Australia's unintended cities: the impact of housing on urban development
| Taylor & Francis Verlag | 2014
Australia's Unintended Cities: The Impact of Housing on Urban Redevelopment
| British Library Online Contents | 2013
Australia's Unintended Cities: The Impact of Housing on Urban Redevelopment
| British Library Online Contents | 2013
Australia's Unintended Cities: The Impact of Housing on Urban Redevelopment
| Taylor & Francis Verlag | 2013