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dc.contributor.authorHolmes, Mark J.
dc.contributor.authorGrimes, Arthur
dc.date.accessioned2013-12-02T03:39:46Z
dc.date.available2013-12-02T03:39:46Z
dc.date.copyright2008-07-01
dc.date.issued2008
dc.identifier.citationHolmes, M. J., & Grimes, A. (2008). Is there long-run convergence among regional house prices in the UK? Urban Studies, 45(8), 1531-1544.en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/8267
dc.description.abstractThis paper investigates the long-run convergence of regional house prices in the UK. Existing studies have failed to reach a consensus on whether or not regional house prices exhibit long-run convergence with each other. The application is proposed of a new test involving unit root testing of the first principal component based on regional—national house price differentials. Using mix-adjusted quarterly data for 1973—2006, it is found that the first principal component is stationary. This suggests that all UK regional house prices are driven by a single common stochastic trend. Further analysis suggests that those regions that are more distant from London exhibit the highest degrees of persistence with respect to deviations in house price differentials.en_NZ
dc.language.isoenen_NZ
dc.publisherSageen_NZ
dc.relation.ispartofUrban Studies
dc.relation.urihttp://usj.sagepub.com/content/45/8/1531.shorten_NZ
dc.subjecthouse priceen_NZ
dc.subjectUKen_NZ
dc.titleIs there long-run convergence among regional house prices in the UK?en_NZ
dc.typeJournal Articleen_NZ
dc.identifier.doi10.1177/0042098008091489en_NZ
dc.relation.isPartOfUrban Studiesen_NZ
pubs.begin-page1531en_NZ
pubs.elements-id33068
pubs.end-page1544en_NZ
pubs.issue8en_NZ
pubs.volume45en_NZ


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