The impact of speculation on house prices in the United Kingdom

Levin, Eric J.; Wright, Robert E.

doi:10.1016/s0264-9993(97)00008-4

Cited by 59 publications

(41 citation statements)

References 3 publications

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“…The present findings of house price determinants demonstrate a consistency with findings from the literature; household income (Brown, Song, & McGillivray, 1997;Dieleman, Clark, & Deurloo, 2000;Reichert, 1990); dwelling completions (Omar & Ruddock, 2002;PCA, 2007); speculation (Ito & Hirono, 1993;Levin & Wright, 1997a); and interest rate (Peng & Wheaton, 1994;Tse, Ho & Ganesan, 1999).…”

Section: Discussionsupporting

confidence: 88%

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An Empirical Study of the Determinants of Sydney’s Dwelling Price

Karantonis

2007

Pacific Rim Property Research Journal

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Section: Discussionsupporting

confidence: 88%

“…Speculation has been considered as a possible determinant of housing prices by a number of authors , including Case and Shiller (1990), Ito and Hirono (1993), and Levin and Wright (1997a). Speculation occurs when over a short period of time, prices are increasing more rapidly than the expected rate.…”

Section: Literature Reviewmentioning

confidence: 99%

An Empirical Study of the Determinants of Sydney’s Dwelling Price

Karantonis

2007

Pacific Rim Property Research Journal

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“…Given the major importance of housing markets, much recent research has been done to recover the interaction of housing markets with other important macroeconomic variables (Campbell and Cocco, 2007;Goodhart and Hofman, 2008;Bjørnland and Jacobsen, 2010). Moreover, much significant research has been done to analyze whether recurrent booms and eventual collapses of housing markets reflect deviations of house prices from fundamentals, speculative bubbles, money illusion, and market frenzies (Levin and Wright 1997, Himmelberg et al 2005, Brunnermeier and Julliard 2007, Panye and Waters 2007. Boom-bust cycles in housing markets may reflect informational cascades and herding behavior on the side of market participants.…”

Section: Introductionmentioning

confidence: 99%

Housing Starts in Canada, Japan, and the United States: Do Forecasters Herd?

Pierdzioch

Rülke

Stadtmann

2010

J Real Estate Finan Econ

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Recent price trends in housing markets may reflect herding of market participants. A natural question is whether such herding, to the extent that it occurred, reflects herding in forecasts of professional forecasters. Using survey data for Canada, Japan, and the United States, we did not find evidence of forecaster herding. On the contrary, forecasters anti -herd and, thereby, tend to intentionally scatter their forecasts around the consensus forecast. The extent of anti-herding seems to vary over time. For Canada and the United States, we found that more pronounced anti-herding leads to lower forecast accuracy.JEL classification: E37, D84, C33

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“…The demand of the housing in the market has been increase but the supply in Malaysia unable to fulfill the market demand. Therefore, housing price in Malaysia is expected to be increased due to the imbalance of demand and supply (Levin, 1997).…”

Section: Housing Pricementioning

confidence: 99%

A Study on Housing Price in Klang Valley, Malaysia

Mariadas¹,

Selvanathan²,

Hong³

2016

IBR

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The main aim of this study is to measure the factors influencing housing price in Klang Valley, Malaysia. This paper examines empirically whether the increasing trend in the Malaysian housing price is associated to changes in the population, construction cost, housing speculation, and inflation rate. The paper is exploratory in nature. The data is collected via questionnaire survey form distributed to youngest respondents in the sample area which is Klang Valley region. Each single elements are calculated its average index respect to few level of influence under respondents opinion. The index will then treated as influencing level of the factors. The paper delivers empirical outcomes that the population, construction cost and housing speculation are the main factors of housing prices. However, fluctuations in housing prices could not necessarily be influenced by the inflation rate. The overall result of this paper strongly recommends that housing price in the Malaysian residential property market is increasing continuously. Therefore, efforts to control the hike in housing price is needed by government and policy controllers in order to maintain the affordable to own a house in Malaysia.

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The impact of speculation on house prices in the United Kingdom

Cited by 59 publications

References 3 publications

An Empirical Study of the Determinants of Sydney’s Dwelling Price

An Empirical Study of the Determinants of Sydney’s Dwelling Price

Housing Starts in Canada, Japan, and the United States: Do Forecasters Herd?

A Study on Housing Price in Klang Valley, Malaysia

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