Speculation in the Housing Market?

Eric J. Levin and Robert Wright ()
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Eric J. Levin: Department of Economics, University of Stirling, Stirling, FK9 4LA, UK, e.j.levin@stir.ac.uk

Urban Studies, 1997, vol. 34, issue 9, 1419-1437

Abstract: This paper presents and tests a model of house price speculation. The mechanisms by which price speculation may occur in the housing market are described and formalised. A model of house prices is constructed that allows for speculation. Aspects of this model are tested using time-series data for the UK and the Greater London area (1969-95). Overall, the analysis presents some evidence of the process of speculation as a possible determinant of house prices in the London and UK-wide housing markets.

Date: 1997
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:34:y:1997:i:9:p:1419-1437

DOI: 10.1080/0042098975493

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