House Prices and Rents: Micro Evidence from a Matched Dataset in Central London

Philippe Bracke

SERC Discussion Papers from Centre for Economic Performance, LSE

Abstract: Using the proprietary dataset of a real estate agency, I analyse tens of thousands of housing sale and rental transactions in Central London during the 2005-2011 period. I run hedonic regressions on both prices and rents and show that price-rent ratios are higher for bigger and more central units. Since this result could be driven by differences in unobserved characteristics between properties for sale and properties for rent, I replicate my analysis using only units that were both sold and rented out within 6 months, and get similar results. I discuss several possible explanations for my findings.

Keywords: House prices; housing rents; price index (search for similar items in EconPapers)
JEL-codes: G10 R21 R31 (search for similar items in EconPapers)
Date: 2013-02
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Journal Article: House Prices and Rents: Microevidence from a Matched Data Set in Central London (2015)
Working Paper: House prices and rents: micro evidence from a matched dataset in Central London (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:sercdp:0127

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