Price adjustment in the London housing market

Webb, Rob, Watson, Duncan and Cook, Steve (2019) Price adjustment in the London housing market. Urban Studies. ISSN 0042-0980

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Abstract

Recent research into the dynamic adjustment of prices within the London housing market is extended via the application of a novel two-step procedure. Combining the non-parametric analysis of the ranking distributions of the levels and changes in house prices with the application of a cross-sectional convergence technique, the analysis results in the detection of a three-tier system in which highly significant convergence clubs are identified within borough-level data. These findings contrast with both the divergence apparent when considering all boroughs and the failure of previous research to identify convergent groupings. The novelty of the empirical methods is supplemented by a discussion of various theoretical factors such as gentrification, displaced demand, immigration, foreign investment and criminal activity in relation to the findings obtained.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > School of Economics
Depositing User: LivePure Connector
Date Deposited: 18 Jul 2019 08:30
Last Modified: 20 Aug 2020 00:49
URI: https://ueaeprints.uea.ac.uk/id/eprint/71779
DOI: 10.1177/0042098019878349

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