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Housing Markets and Migration: Evidence from New Zealand

Author

Listed:
  • Steven Stillman

    () (Motu Economic and Public Policy Research)

  • David C. Maré

    () (Motu Economic and Public Policy Research)

Abstract

New Zealand's large and volatile external migration flows generate significant year-to-year fluctuations in the demand for residential housing. This paper uses population data from the 1986, 1991, 1996, 2001 and 2006 New Zealand Censuses, house sales price data from Quotable Value New Zealand and rent data from the Department of Building and Housing to examine how population change, international migration, including the return migration of New Zealanders abroad, and internal migration affect rents and sales prices of both apartments and houses in different housing markets in New Zealand. Our analysis focuses on the relationship between the changes in the population in local areas and changes in house sale prices and rents in these areas. Focusing on changes allows us to control for time-invariant unobservable characteristics of local areas that either attract or repel individuals and lead to differential costs of housing.

Suggested Citation

  • Steven Stillman & David C. Maré, 2008. "Housing Markets and Migration: Evidence from New Zealand," Working Papers 08_06, Motu Economic and Public Policy Research.
  • Handle: RePEc:mtu:wpaper:08_06
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    File URL: http://motu-www.motu.org.nz/wpapers/08_06.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Skidmore, Mark, 2014. "Housing Affordability: Lessons from the United States," Working Paper Series 3422, Victoria University of Wellington, Chair in Public Finance.
    2. Nathan, Max, 2013. "The Wider Economic Impacts of High-Skilled Migrants: A Survey of the Literature," IZA Discussion Papers 7653, Institute for the Study of Labor (IZA).
    3. Sa, Filipa, 2011. "Immigration and House Prices in the UK," IZA Discussion Papers 5893, Institute for the Study of Labor (IZA).
    4. Kathrin Degen & Andreas M. Fischer, 2017. "Immigration and Swiss House Prices," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 153(1), pages 15-36, January.
    5. Rosa Sanchis-Guarner, 2014. "First-Come First-Served: Identifying the Demand Effect of Immigration Inflows on House Prices," SERC Discussion Papers 0160, Spatial Economics Research Centre, LSE.
    6. World Bank Group, 2015. "Malaysia Economic Monitor, December 2015," World Bank Other Operational Studies 23565, The World Bank.
    7. Rob Hodgson & Jacques Poot, 2011. "New Zealand Research on the Economic Impacts of Immigration 2005-2010: Synthesis and Research Agenda," CReAM Discussion Paper Series 1104, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
    8. Hippolyte D'Albis & Dramane Coulibaly & Ekrame Boubtane, 2017. "International Migration and Regional Housing Markets: Evidence from France," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01469758, HAL.
    9. Sona Kalantaryan, 2013. "Housing Market Responses to Immigration; Evidence from Italy," RSCAS Working Papers 2013/83, European University Institute.
    10. Patricia Fraser & Lynn McAlevey, 2015. "New Zealand regional house prices and macroeconomic shocks," Journal of Property Research, Taylor & Francis Journals, vol. 32(4), pages 279-300, December.
    11. Accetturo, Antonio & Manaresi, Francesco & Mocetti, Sauro & Olivieri, Elisabetta, 2014. "Don't stand so close to me: The urban impact of immigration," Regional Science and Urban Economics, Elsevier, vol. 45(C), pages 45-56.

    More about this item

    Keywords

    Immigration; Housing Markets; House Prices; New Zealand; Internal Migration;

    JEL classification:

    • J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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