Efficiency and seasonality in the UK housing market, 1991-2001

Leslie Rosenthal

No KERP 2004/05, Keele Economics Research Papers from Centre for Economic Research, Keele University

Abstract: This paper considers the informational efficiency of the UK owner-occupied housing market over the period 1991-2001. Original small-area, monthly, house price index series are developed from raw housing transactions observations for a number of UK counties and cities. These series are then tested for characteristics indicative of weak market efficiency and seasonality. The major conclusions drawn are that there exists little evidence to support notions of inefficiency in these markets for this period.

Keywords: Housing Markets; Market efficiency; Seasonality. (search for similar items in EconPapers)
JEL-codes: R10 R20 R31 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2004-06
New Economics Papers: this item is included in nep-fmk, nep-geo and nep-ure
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Published in Oxford Bulletin of Economics and Statistics, Volume 68, Issue 3, pages 289-318, June 2006. [ doi:10.1111/j.1468-0084.2006.00163.x ]

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Journal Article: Efficiency and Seasonality in the UK Housing Market, 1991–2001* (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:kee:kerpuk:2004/05

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