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Canadian City Housing Prices and Urban Market Segmentation

Jason Allen (), Robert Amano, David Byrne () and Allan Gregory ()

Staff Working Papers from Bank of Canada

Abstract: The authors provide a detailed empirical analysis of Canadian city housing prices. They examine the long-run relationship between city house prices in Canada from 1981 to 2005 as well as idiosyncratic relations between city prices and city-specific variables. The results suggest that city house prices are only weakly correlated in the long run, and that there is a disconnect between house prices and interest rates. City-specific variables such as union wage levels, new-housing prices, and the issuance of building permits tend to be positively related to city existing-house prices. Surprisingly, there is mixed evidence with respect to standard measures of economic activity, such as labour force and per capita GDP.

Keywords: Regional; economic; developments (search for similar items in EconPapers)
JEL-codes: C22 C32 R2 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2006
New Economics Papers: this item is included in nep-geo and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14) Track citations by RSS feed

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Related works:
Journal Article: Canadian city housing prices and urban market segmentation (2009) Downloads
Journal Article: Canadian city housing prices and urban market segmentation (2009) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:bca:bocawp:06-49

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