Synchronisation and commonalities in metropolitan housing market cyclesAkimov, A., Stevenson, S. and Young, J., (2013) Synchronisation and commonalities in metropolitan housing market cycles. Working Papers in Real Estate & Planning. 03/13. Working Paper. University of Reading, Reading. pp25.
It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. Abstract/SummaryThis paper examines the degree of commonalities present in the cyclical behavior of the eight largest metropolitan housing markets in Australia. Using two techniques originally in the business cycle literature we consider the degree of synchronization present and secondly decompose the series’ into their permanent and cyclical components. Both empirical approaches reveal similar results. Sydney and Melbourne are closely related to each other and are relatively segmented from the smaller metropolitan areas. In contrast, there is substantial evidence of commonalities in the cyclical behavior of the remaining cities, especially those on the Eastern and Southern coasts of Australia.
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