The Structure of Housing Submarkets in a Metropolitain Region
AbstractIn this paper, it is examined whether the structure of constrained submarkets constructed according to three a priori classifications (property type, house value and geographical areas) differs from that of unconstrained submarkets constructed by means of principal component analysis and cluster analysis. This procedure makes it possible to assess the impact of imposing a priori constraints when housing submarkets are constructed. Data for Auckland, New Zealand, are used. The structure of housing submarkets in the Auckland region is found to be related primarily to the physical characteristics of properties. The other dimensions of housing submarkets gain more importance only when classifications with several submarkets are considered. The a priori classifications are found to lead to submarkets whose structure does not reflect the dimensions of housing submarkets in this metropolitan region.
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Bibliographic InfoPaper provided by Ecole des Hautes Etudes Commerciales, Universite de Geneve- in its series Papers with number 99.15.
Length: 28 pages
Date of creation: 1999
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HOUSING ; REGIONAL DEVELOPMENT ; MARKET STRUCTURE;
Find related papers by JEL classification:
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
- R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
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- Alexandre Tangerini & Nils Soguel, 2005. "Evaluation monétaire de la qualité de paysage / Evaluation of the landscape quality," Urban/Regional 0507007, EconWPA.
- Luci Ellis & Dan Andrews, 2001. "City Sizes, Housing Costs, and Wealth," RBA Research Discussion Papers rdp2001-08, Reserve Bank of Australia.
- Alexandre Tangerini & Nils Soguel, 2005. "Evaluation monétaire de la qualité du paysage. Monetary valuation of the landscape quality," Urban/Regional 0507002, EconWPA.
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