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

Andrew James Abbott () and Glauco de Vita ()
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Andrew James Abbott: University of Hull [United Kingdom]
Glauco de Vita: Business School - Oxford Brookes University

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Abstract: This paper 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 1973Q4 to 2008Q4, 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.

Keywords: Social; Sciences; &; Humanities (search for similar items in EconPapers)
Date: 2011-12-09
Note: View the original document on HAL open archive server: https://hal.science/hal-00762892v1
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Published in Applied Economics, 2011, 45 (10), pp.1227-1238. ⟨10.1080/00036846.2011.613800⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00762892

DOI: 10.1080/00036846.2011.613800

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