Journal Article

An empirical analysis of the Scottish housing market by property type

Abstract

This paper studies house price dynamics of the different property types in Scotland. We find evidence of i) breakpoints around the recent financial crisis in three property types (flats, terraced, semi-detached) and in the average house prices, ii) volatility clustering in the detached house prices, with the CGARCH being the optimal volatility model, iii) negative impact of the unemployment and interest rates on house prices irrespective of the property type and positive effect of the CPI in the prices of the detached, terraced and average houses. Our results have significant implications for appropriate economic policy selection and investment management.

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Authors

Katsiampa, Paraskevi
Begiazi, Kyriaki

Oxford Brookes departments

Oxford Brookes Business School\Oxford Brookes Business School\Department of Accounting, Finance and Economics

Dates

Year of publication: 2019
Date of RADAR deposit: 2019-02-07

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License

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Related resources

This RADAR resource is the Accepted Manuscript of An empirical analysis of the Scottish housing market by property type