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.
منابع مشابه
Why Do House Prices Fall? Perspectives on the Historical Drivers of Large Nominal House Price Declines
Any opinions expressed are those of the authors and not those of the Joint Center for Housing Studies of Harvard University or of any of the persons or organizations providing support to the Joint Center for Housing Studies. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notices, is given to the source.
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ژورنال
عنوان ژورنال: Land
سال: 2021
ISSN: ['2073-445X']
DOI: https://doi.org/10.3390/land10101009