Date of this Version

4-27-2011

Document Type

Conference Paper

Publication Details

Ma, L., & Liu, C. (April, 2011). A panel regression method for quantifying the convergence of house prices. Paper presented at 36th Annual Conference for Australian University Building Educators, Bond University, Gold Coast.

Abstract

The convergence among house prices has attracted much attention from researchers. Previous research mainly utilised a time-series regression method to investigate convergences of house prices, which may ignore the heterogeneity of houses across cities. This research developed a panel regression method, by which the heterogeneity of house prices can be captured. Seemingly unrelated regression estimators were also adapted to deal with the contemporary correlations across cities. Investigation of the convergence among house prices in the Australian capital cities was carried out by using the developed panel regression method. Results suggested that house prices converge in Sydney, Adelaide and Hobart but diverge in Darwin.

https://dl.dropboxusercontent.com/u/16703085/64.pdf

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This document has been peer reviewed.