Long-run information diffusion processes in the Perth housing market 1988-2000

Costello, Gregory

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Authors

Costello, Gregory

Date

2003

Type

Journal Article

Metadata

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Citation

Costello, Gregory. 2003. Long-run information diffusion processes in the Perth housing market 1988-2000. Pacific Rim Property Research Journal 9 (2): pp. 87-103.

Source Title

Pacific Rim Property Research Journal

ISSN

14445921

Faculty

Curtin Business School

School of Economics and Finance

School

Department of Property Studies

URI

http://hdl.handle.net/20.500.11937/34238

Collection

Curtin Research Publications

Abstract

In the period since the influential studies by Case and Shiller (1989, 1990), it hasbeen established that housing markets are characterised by information diffusionpatterns determined by informational inefficiencies. In Australia, little work hasbeen completed on the long-term patterns of these inefficiencies. This paperexamines a rich data set of transactions for the Perth housing market in the period1988-2000. The results confirm some significant long-term patterns for real houseprice changes and some close relationships between these patterns and changes inreal interest rates.