Regional housing price dependency in the UK: A dynamic network approach
Dayong Zhang (),
Qiang Ji (),
Wan-Li Zhao and
Nicholas J Horsewood
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Wan-Li Zhao: Beihang University, China
Nicholas J Horsewood: University of Birmingham, UK
Urban Studies, 2021, vol. 58, issue 5, 1014-1031
The cross-regional dependency in the UK housing market is analysed using regional house price indices. In this article, a network approach based on partial correlations is proposed, along with rolling-window analysis to consider potential time-varying dependency. The results show that house prices in the outer South East region have the strongest influence on regional housing market interactions in the UK. This influence is stronger when the markets are highly interconnected, whereas the house prices in London have the strongest influence when the UK regional housing markets are relatively less connected.
Keywords: dependency network; graph theory; house prices; partial correlations; regional housing markets; ä¾ èµ–ç½‘ç»œ; å›¾è®º; æˆ¿ä»·; å ç›¸å…³; åŒºåŸŸä½ æˆ¿å¸‚åœº (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:58:y:2021:i:5:p:1014-1031
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