Editorial

Citation

Reed, R. (2010), "Editorial", International Journal of Housing Markets and Analysis, Vol. 3 No. 2. https://doi.org/10.1108/ijhma.2010.35103baa.001

Editorial

Article Type: Editorial From: International Journal of Housing Markets and Analysis, Volume 3, Issue 2.

Over the past few years much of the discussion about international housing markets has been linked to the global financial crisis and the subsequent effect on house prices and demand levels. For example, how far will the house price drop be (if at all) and for how long? Arguably by now the bottom of the downturn has passed and the discussion about housing “bubbles” has somewhat lessened, allowing the attention to be placed on how robust each market is in the post-downturn era. This scenario has highlighted the variances between each country where certain countries are experiencing widespread record high house prices (e.g. Australia) at exactly the same time as some flatter international markets which have not rebounded as much (e.g. USA). Housing market booms and busts provide researchers with ideal opportunities to examine and understand the inherent differences in each location and how they react to downturns and upturns, if at all. Nevertheless it is accepted that although housing market cycles are somewhat predictable the actual timing and levels of upside and downside risk ensure the relevance of research into housing markets will always be sustained and of interest to stakeholders in the private and public sectors.

The six papers in this issue contribute to an enhanced understanding of housing market behaviour in different international countries. The first paper (McGreal et al.) examines the variances of UK house prices with reference to housing cycles, being a section of housing market analysis which has received renewed interest due to the recent downturn and the possibility of a “double dip” with the cyclic behaviour of the market. The third paper focuses on the relationship between rented accommodation vs homeownership benefits, whilst the third paper highlights the diversity of this journal by analysing brownfield developments in China (Wu et al.). The next two papers both refer to the Malaysian housing which has continued to receive sustained interest. One paper examines the expectations of demand in the form of purchasers with consideration given to corporate social responsibility, whilst the following paper examines housing developers and their performance over a designated time period. The final paper on the US market highlights a continually expanding research area being the linkages between demography and housing markets, where health-related issues may become one of society's largest challenges.

Thank you to authors and reviewers for ensuring this journal continues to publish relevant and innovative research. I encourage your feedback (richard.reed@deakin.edu.au) and comment on any aspects of this journal. This is an excellent time to be researching housing markets and endeavouring to understand the variance between each location and country, both now and in the future.

Professor Richard Reed