Abstract
The cross-regional dependency in the UK housing market is analysed using regional house price indices. In this article, a network approach based on partial correlations is proposed, along with rolling-window analysis to consider potential time-varying dependency. The results show that house prices in the outer South East region have the strongest influence on regional housing market interactions in the UK. This influence is stronger when the markets are highly interconnected, whereas the house prices in London have the strongest influence when the UK regional housing markets are relatively less connected.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.