Liquidity, Seasonality, and Distance to Universities: The case of UK rental markets

Okan Yilmaz (), Oleksandr Talavera () and Joy Jia
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Okan Yilmaz: Swansea University

Discussion Papers from Department of Economics, University of Birmingham

Abstract: This paper explores how liquidity in UK rental markets reacts to variations in demand across time and space. We employ a survival analysis approach with a non-parametric hazard rate to investigate whether the probability of renting changes across calendar months. Our unique dataset comes from Zoopla.com and contains 300,198 rental listings in 13 major UK university cities over the 2015-17 period. Our results suggest that the probability of renting is lower during the winter season compared to summer. This could be explained by students' higher housing demand at the start of the academic term. The results become more pronounced when the distance between marketed houses and university campuses is taken into account.

Keywords: Big data; student housing; seasonality; survival analysis (search for similar items in EconPapers)
JEL-codes: R21 R31 R32 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2020-05
New Economics Papers: this item is included in nep-eur, nep-geo and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:bir:birmec:20-11

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