House Price Forecasting from Investment Perspectives

Shi, S; Mangioni, V; Ge, XJ; Herath, S; Rabhi, F; Ouysse, R

House Price Forecasting from Investment Perspectives

Shi, S

Mangioni, V Ge, XJ Herath, S

Rabhi, F Ouysse, R

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Publisher:: MDPI AG
Publication Type:: Journal Article
Citation:: Land, 2021, 10, (10), pp. 1009-1009
Issue Date:: 2021-09-26

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Field	Value	Language
dc.contributor.author	Shi, S https://orcid.org/0000-0003-4188-5151
dc.contributor.author	Mangioni, V
dc.contributor.author	Ge, XJ
dc.contributor.author	Herath, S https://orcid.org/0000-0002-7958-3274
dc.contributor.author	Rabhi, F
dc.contributor.author	Ouysse, R
dc.date.accessioned	2021-10-12T03:18:00Z
dc.date.available	2021-10-12T03:18:00Z
dc.date.issued	2021-09-26
dc.identifier.citation	Land, 2021, 10, (10), pp. 1009-1009
dc.identifier.issn	2073-445X
dc.identifier.issn	2073-445X
dc.identifier.uri	http://hdl.handle.net/10453/151053
dc.description.abstract	<jats:p>Housing market dynamics have primarily shifted from consumption- to investment-driven in many countries, including Australia. Building on investment theory, we investigated market dynamics by placing investment demand at the center using the error correction model (ECM). We found that house prices, rents, and interest rates are cointegrated in the long run under the present value investment framework. Other economic factors such as population growth, unemployment, migration, construction activities, and bank lending were also important determinants of the housing market dynamics. Our forecasting results show that the Sydney housing market will continue to grow with no significant price decline in the foreseeable future.</jats:p>
dc.language	en
dc.publisher	MDPI AG
dc.relation	UrbanGrowth NSWUrbanGrowth
dc.relation.ispartof	Land
dc.relation.isbasedon	10.3390/land10101009
dc.rights	info:eu-repo/semantics/openAccess
dc.subject	0502 Environmental Science and Management
dc.title	House Price Forecasting from Investment Perspectives
dc.type	Journal Article
utslib.citation.volume	10
utslib.for	0502 Environmental Science and Management
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	open_access	*
dc.date.updated	2021-10-12T03:17:59Z
pubs.issue	10
pubs.publication-status	Published online
pubs.volume	10
utslib.citation.issue	10

Abstract:

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

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http://hdl.handle.net/10453/151053