Understanding House Price Volatility: Measuring and Explaining the Supply Side of Metropolitan Area Housing Markets

2003 ◽  
Author(s):  
Bengte L. Evenson
Keyword(s):  
Metropolitan Area ◽  
House Price ◽  
Housing Markets ◽  
Price Volatility ◽  
Supply Side ◽  
House Price Volatility

The Granular Origins of House Price Volatility

2017 ◽  
Author(s):  
Isaiah Hull ◽  
Conny Olovsson ◽  
Karl Walentin ◽  
Andreas Westermark
Keyword(s):  
House Price ◽  
Price Volatility ◽  
House Price Volatility

Heterogeneous expectation, beliefs evolution and house price volatility

2016 ◽  
Vol 53 ◽  
pp. 409-418 ◽  
Author(s):  
Hao Zhang ◽  
Yuyuan Huang ◽  
Haixiang Yao
Keyword(s):  
House Price ◽  
Price Volatility ◽  
House Price Volatility

House price volatility and negative equity

2018 ◽  
pp. 19-30
Author(s):  
Ray Forrest ◽  
Patricia Kennett ◽  
Philip Leather
Keyword(s):  
House Price ◽  
Price Volatility ◽  
House Price Volatility

Towards Understanding the Volatility of Housing Prices and Exploring the Tourism Demand Impact

2019 ◽  
Vol 24 (4) ◽  
pp. 453-465 ◽  
Author(s):  
Hatice Ozer Balli ◽  
Faruk Balli ◽  
Susa Flint-Hartle ◽  
Xinping Yang
Keyword(s):  
Housing Prices ◽  
House Price ◽  
Price Volatility ◽  
Macroeconomic Fluctuations ◽  
Residential Property ◽  
Tourism Impact ◽  
Macroeconomic Factors ◽  
Metropolitan Regions ◽  
Northern Areas ◽  
House Price Volatility

Using an Exponential Generalized Autoregressive Conditional Heteroskedasticity model (EGARCH), the volatile nature of residential property prices in New Zealand is examined. The model investigates the extent to which macroeconomic fundamentals and a combined population shift/visitor factor called "tourism" impact residential property values and capture variations in volatility across different regions. We find that fundamentals have different impacts across regional property markets. In line with the literature, the bigger metropolitan regions like Auckland and Christchurch are more sensitive to macroeconomic factors than smaller regions. Additionally, we find house price volatility in southern regions is affected by macroeconomic fluctuations more than northern areas. Novel to the literature, we discover that "tourism" has significant impact on house price volatility as well, particularly in popular touristic areas. These results imply that to better understand the determinants of house price volatility and mitigate its effects, policy makers should consider a coordinated approach, taking a regional perspective and the interaction of several variables into account.

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