HOUSINHG PRICE DIFFUSION PATTERN OF AUSTRALIAS STATE CAPITAL CITIES
The ripple effect of house prices in mega-cities has recently been identified by researchers. However, it is very difficult to formulate and measure the effect using conventional house price theories particularly the spatial locations of cities. Based on econometrics principles, such as the Engle-Granger cointegration test and the impulse response function, this research develops an innovative approach to examine quantitatively the diffusion patterns of house prices in mega-cities of a country. Taking the Australias eight capital cities as an example, the proposed approach is validated by an empirical study. The results show that a 1-1-2-4 diffusion pattern exists within these cities. Sydney is on the top tier with Melbourne in the second; Perth and Adelaide are in the third level and the other four cities lie on the bottom. This research may be applied to predict the house prices of mega-cities of in other countries.
ZHENQIANG LUO CHUNLU LIU DAVID PICKEN
School of Architecture and Building, Deakin University, 1 Gheringhap Street, Geelong, Vic 3217, Australia
国际会议
广州
英文
215-221
2006-12-01（万方平台首次上网日期，不代表论文的发表时间）