UK house price convergence clubs and spillovers

Alberto Montagnoli, Jun Nagayasu

Research output: Contribution to journalArticlepeer-review

24 Citations (Scopus)

Abstract

Using a number of advanced statistical methods, this paper analyses the convergence and spillover effects of house prices across UK regions. In contrast to the single steady state often assumed in modern macroeconomic analyses, we find that house prices across UK regions can be grouped into four clusters, confirming the heterogeneity and complexity of the UK housing market. Moreover we document the dynamics of house price spillovers across regions.

Original languageEnglish
Pages (from-to)50-58
Number of pages9
JournalJournal of Housing Economics
Volume30
DOIs
Publication statusPublished - 2015 Dec 1

Keywords

  • Convergence
  • Heterogeneity
  • Regional house prices
  • Spillovers

ASJC Scopus subject areas

  • Economics and Econometrics

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