Katsiampa, P. orcid.org/0000-0003-0477-6503 and Begiazi, K. (2019) An empirical analysis of the Scottish housing market by property type. Scottish Journal of Political Economy, 66 (4). pp. 559-583. ISSN 0036-9292
Abstract
This paper studies house price dynamics of the different property types in Scotland. We find evidence of i) breakpoints around the recent financial crisis in three property types (flats, terraced, semi-detached) and in the average house prices, ii) volatility clustering in the detached house prices, with the CGARCH being the optimal volatility model, iii) negative impact of the unemployment and interest rates on house prices irrespective of the property type and positive effect of the CPI in the prices of the detached, terraced and average houses. Our results have significant implications for appropriate economic policy selection and investment management.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 Scottish Economic Society. This is an author-produced version of a paper subsequently published in Scottish Journal of Political Economy. Uploaded in accordance with the publisher's self-archiving policy. |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 17 May 2019 13:49 |
Last Modified: | 03 Dec 2021 10:13 |
Status: | Published |
Publisher: | Wiley |
Refereed: | Yes |
Identification Number: | 10.1111/sjpe.12210 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:146241 |