Measuring a boom and bust: The Sydney housing market 2001-2006

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dc.contributor.author Hill, Robert en_US
dc.contributor.author Melser, Daniel en_US
dc.contributor.author Syed, Iqbal en_US
dc.contributor.editor en_US
dc.date.accessioned 2011-02-07T06:25:46Z
dc.date.available 2011-02-07T06:25:46Z
dc.date.issued 2009 en_US
dc.identifier 2009001908 en_US
dc.identifier.citation Hill Robert, Melser Daniel, and Syed Iqbal 2009, 'Measuring a boom and bust: The Sydney housing market 2001-2006', Elsevier, vol. 18, no. 3, pp. 193-205. en_US
dc.identifier.issn 1051-1377 en_US
dc.identifier.other C1UNSUBMIT en_US
dc.identifier.uri http://hdl.handle.net/10453/13891
dc.description.abstract The Sydney housing market peaked in 2003. The period 2001?2006 is, therefore, of particular interest since it captures a boom and bust in the housing market. We compute hedonic, repeat-sales and median price indexes for five regions in Sydney over this period. While the three approaches are in broad agreement regarding the timing of the turning point in the housing market, some important differences also emerge. In particular, we find evidence of sample selection bias in our hedonic and repeat-sales data sets (with the former focusing more on better quality dwellings and the latter more on lower quality dwellings). These sample selection biases could in turn cause bias (in opposite directions) in our hedonic and repeat-sales indexes. Median indexes may likewise be biased as a result of an apparent decline in the average quality of dwellings sold in the latter part of the sample. We also find evidence of convergence in prices across regions during the boom and divergence in the subsequent bust. en_US
dc.language en_US
dc.publisher Elsevier en_US
dc.relation.isbasedon http://dx.doi.org/10.1016/j.jhe.2009.07.010 en_US
dc.title Measuring a boom and bust: The Sydney housing market 2001-2006 en_US
dc.parent Journal of Housing Economics en_US
dc.journal.volume 18 en_US
dc.journal.number 3 en_US
dc.publocation USA en_US
dc.identifier.startpage 193 en_US
dc.identifier.endpage 205 en_US
dc.cauo.name BUS.School of Finance and Economics en_US
dc.conference Verified OK en_US
dc.for 140299 en_US
dc.personcode 0000059320 en_US
dc.personcode 108916 en_US
dc.personcode 0000059321 en_US
dc.percentage 100 en_US
dc.classification.name Applied Economics not elsewhere classified en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords House prices; Price index; Hedonic regression; Repeat-sales index; Sample selection bias; Convergence en_US
dc.staffid en_US


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