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Australian Capital City Real House Prices, 1979-1993

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Author Info

  • Steven C. Bourassa
  • Patric H. Hendershott

Abstract

Real house prices have increased by 35 per cent in Australian capital cities during the last 15 years, with Brisbane, Canberra, and Sydney experiencing rises of 48 to 61 per cent and Adelaide, Melbourne and Perth having increases of 20 per cent or less. This article estimates a single model for the six cities to explain the divergent real price behaviour over time and space. It is concluded that the fundamental forces driving real house prices are the growth rate in real wage income (primarily due to employment growth) and the growth in population caused by net overseas migration. Copyright 1995 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research.

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Bibliographic Info

Article provided by The University of Melbourne, Melbourne Institute of Applied Economic and Social Research in its journal Australian Economic Review.

Volume (Year): 28 (1995)
Issue (Month): 3 ()
Pages: 16-26

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Handle: RePEc:bla:ausecr:v:28:y:1995:i:3:p:16-26

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  1. Right in the long run?
    by Don Arthur in Club Troppo on 2009-03-29 13:01:14
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Cited by:
  1. Renee A. Fry & Vance L. Martin & Nicholas Voukelatos, 2009. "Overvaluation In Australian Housing And Equity Markets: Wealth Effects Or Monetary Policy?," CAMA Working Papers 2009-10, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  2. Laura Berger-Thomson & Luci Ellis, 2004. "Housing Construction Cycles and Interest Rates," RBA Research Discussion Papers rdp2004-08, Reserve Bank of Australia.
  3. Abdul Aziz, Ahmad Faizal, 2011. "Causality of Residential Properties Price Movements in Malaysia," MPRA Paper 47682, University Library of Munich, Germany.

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