Testing for long-run convergence across regional house prices in the UK: a pairwise approach

Andrew Abbott and Glauco De Vita

Applied Economics, 2013, vol. 45, issue 10, 1227-1238

Abstract: This article tests for stochastic convergence in UK regional house prices using the recently developed pairwise approach. This approach allows for unit root tests to be conducted on all N ( N − 1)/2 possible pairs of house price differentials across N regions in the UK, thus avoiding the need to choose a base region or alternative national figure as the benchmark. Using mix adjusted house price data from 1973:Q4 to 2008:Q4, the main finding is that there is no evidence of long run convergence among regional house prices or of an equilibrium relationship towards which UK regional house prices have a tendency to gravitate.

Date: 2013
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DOI: 10.1080/00036846.2011.613800

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