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House prices and rents: micro evidence from a matched dataset in Central London

Philippe Bracke

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Using the proprietary dataset of a real estate agency, I analyse tens of thousands of housing sale and rental transactions in Central London during the 2005-2011 period. I run hedonic regressions on both prices and rents and show that price-rent ratios are higher for bigger and more central units. Since this result could be driven by differences in unobserved characteristics between properties for sale and properties for rent, I replicate my analysis using only units that were both sold and rented out within 6 months, and get similar results. I discuss several possible explanations for my findings.

Keywords: House prices; housing rents; price index (search for similar items in EconPapers)
JEL-codes: G10 R21 R31 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2013-02
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Downloads: (external link)
http://eprints.lse.ac.uk/49723/ Open access version. (application/pdf)

Related works:
Journal Article: House Prices and Rents: Microevidence from a Matched Data Set in Central London (2015) Downloads
Working Paper: House Prices and Rents: Micro Evidence from a Matched Dataset in Central London (2013) Downloads
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