This study was motivated by the desire to contribute to the understanding of the movement of house prices and the role of the so-called economic fundamentals in the housing market, especially within an Australian context. The core objective of this thesis is to aid understanding of the economic and other mechanisms by which the Australian housing market operates. We do this by constructing an analytical framework, or model, that encompasses the most important characteristics of the housing market. This thesis examines two important aspects of the Australian housing market: movements of house prices and changes in the net capital stock of dwellings in Australia. Movements of house prices are modelled from two perspectives: firstly, using the fundamental approach, which explains the phenomena by changes in such fundamental explanatory variables as income, interest rates, population and prices of building materials, and secondly, by analysing spatial interdependence of house prices in Australian capital cities. Changes in stock of dwellings were also modelled on the basis of a fundamental approach by states and for Australia as a whole...
Identifer | oai:union.ndltd.org:ADTP/285721 |
Date | January 2008 |
Creators | Mikhailitchenko, Serguei, na |
Publisher | Griffith University. Department of Accounting, Finance and Economics |
Source Sets | Australiasian Digital Theses Program |
Language | English |
Detected Language | English |
Rights | http://www.gu.edu.au/disclaimer.html), Copyright Serguei Mikhailitchenko |
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