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MODELING REGIONAL HOUSE PRICES IN THE UNITED KINGDOM
Author(s) -
Giussani Bruno,
Hadjimatheou George
Publication year - 1991
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/j.1435-5597.1991.tb01728.x
Subject(s) - kingdom , house price , economics , econometrics , geology , paleontology
In the second half of the 1980s the United Kingdom experienced a widening of house‐price differentials between the South and the North, thus providing an extra Impetus to the claim of a North South divide. This paper adopts a broader perspective and examines the view that the pattern of house price differentials across regions resembles a ripple effect. Long time‐series data covering 10 UK fusions and various statistical/econometric techniques are used to test the ripple‐effect hypothesis. The cumulative evidence seems to conform to the hypothesis. Various explanations of this phenomenon, including interregional migration, are considered.