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Synchronisation and commonalities in metropolitan housing market cycles

Akimov, 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.

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This 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.

Item Type:Report (Working Paper)
Divisions:Henley Business School > Real Estate and Planning
ID Code:32468
Publisher:University of Reading
Publisher Statement:The copyright of each working paper remains with the author. If you wish to quote from or cite any paper please contact the appropriate author; in some cases a more recent version of the paper may have been published elsewhere.


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