House Price Forecasting from Investment Perspectives

نویسندگان

چکیده

Housing market dynamics have primarily shifted from consumption- to investment-driven in many countries, including Australia. Building on investment theory, we investigated by placing demand at the center using error correction model (ECM). We found that house prices, rents, and interest rates are cointegrated long run under present value framework. Other economic factors such as population growth, unemployment, migration, construction activities, bank lending were also important determinants of housing dynamics. Our forecasting results show Sydney will continue grow with no significant price decline foreseeable future.

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ژورنال

عنوان ژورنال: Land

سال: 2021

ISSN: ['2073-445X']

DOI: https://doi.org/10.3390/land10101009