Regional House Price Dynamics in Australia: Insights into Lifestyle and Mining Dynamics through PCA

Willem Sijp

Papers from arXiv.org

Abstract: This report applies Principal Component Analysis (PCA) to regional house price indexes to uncover dominant trends in Australia's housing market. Regions are assigned PCA-derived scores that reveal which underlying market forces are most influential in each area, enabling broad classification of local housing markets. The approach highlights where price movements tend to align across regions, even those geographically distant. The three most dominant trends are described in detail and, together with the regional scores, provide objective tools for policymakers, researchers, and real estate professionals.

Date: 2025-03
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