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1 – 10 of over 2000
Article
Publication date: 2 January 2023

Le-Vinh-Lam Doan and Alasdair Rae

With access to the large-scale search data from Rightmove plc, the paper firstly indicated the possibility of using user-generated data from online property portals to predict…

Abstract

Purpose

With access to the large-scale search data from Rightmove plc, the paper firstly indicated the possibility of using user-generated data from online property portals to predict housing market activities and secondly embraced a GIS approach to explore what people search for housing and what they chose and investigated the issue of mismatch between search patterns and revealed patterns. Based on the analysis, the paper contributes a visual GIS-based approach which may help planners and designers to make more informed decisions related to new housing supply, particularly where to build, what to build and how many to build.

Design/methodology/approach

The paper used the 2013 housing search data from Rightmove and the 2013 price data from Land Registry with transactions made after the search period and embraced a GIS approach to explore the potential housing demand patterns and the mismatch between searches and sales. In the analysis, the paper employed the K-means approach to group prices into five levels and used GIS software to draw maps based on these price levels. The paper also employed a simple analysis of linear regression based on the coefficient of determination to investigate the relationship between online property views and values of house sales.

Findings

The result indicated the strong relationship between online property views and the values of house sales, implying the possibility of using search data from online property portals to predict housing market activities. It then explore the spatial housing demand patterns based on searches and showed a mismatch between the spatial patterns of housing search and actual moves across submarkets. The findings may not be very surprising but the main objective of the paper is to open up a potentially useful methodological approach which could be extended in future research.

Research limitations/implications

It is important to identify search patterns from people who search with the intention to buy houses and from people who search with no intention to purchase properties. Rightmove data do not adequately represent housing search activity, and therefore more attention should be paid to this issue. The analysis of housing search helps us have a better understanding of households' preferences to better estimate housing demand and develop search-based prediction models. It also helps us identify spatial and structural submarkets and examine the mismatches between current housing stock and housing demand in submarkets.

Social implications

The GIS approach in this paper may help planners and designers better allocate land resources for new housing supply based on households' spatial and structural preferences by identifying high and low demand areas with high searches relative to low housing stocks. Furthermore, the analysis of housing search patterns helps identify areas with latent demand, and when combined with the analysis of transaction patterns, it is possible to realise the areas with a lack of housing supply relative to excess demand or a lack of latent demand relative to the housing stock.

Originality/value

The paper proves the usefulness of a GIS approach to investigate households' preferences and aspirations through search data from online property portals. The contribution of the paper is the visual GIS-based approach, and based on this approach the paper fills the international knowledge gap in exploring effective approaches to analysing user-generated search data and market outcome data in combination.

Details

Open House International, vol. 48 no. 4
Type: Research Article
ISSN: 0168-2601

Keywords

Article
Publication date: 19 October 2023

Colin Jones

The paper sets out a conceptualisation of the housing cycle centring on households' desire to upgrade their housing consumption.

Abstract

Purpose

The paper sets out a conceptualisation of the housing cycle centring on households' desire to upgrade their housing consumption.

Design/methodology/approach

The paper begins by studying house price trends and cycles in OECD countries since 2000 to identify housing cycle patterns. It then assesses existing theories partly in relation to these patterns. It then proposes a new conceptualisation of the housing cycle.

Findings

The paper finds the central role of supply lags in housing cycles is not warranted. Instead, a demand cycle generated by upgrading desires better explains an initial boom followed by a slow recovery.

Originality/value

The paper challenges existing orthodoxy on housing cycle dynamics and proposes an alternative perspective.

Details

Journal of European Real Estate Research, vol. 16 no. 3
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 19 December 2022

Xiaojie Xu and Yun Zhang

Understandings of house prices and their interrelationships have undoubtedly drawn a great amount of attention from various market participants. This study aims to investigate the…

Abstract

Purpose

Understandings of house prices and their interrelationships have undoubtedly drawn a great amount of attention from various market participants. This study aims to investigate the monthly newly-built residential house price indices of seventy Chinese cities during a 10-year period spanning January 2011–December 2020 for understandings of issues related to their interdependence and synchronizations.

Design/methodology/approach

Analysis here is facilitated through network analysis together with topological and hierarchical characterizations of price comovements.

Findings

This study determines eight sectoral groups of cities whose house price indices are directly connected and the price synchronization within each group is higher than that at the national level, although each shows rather idiosyncratic patterns. Degrees of house price comovements are generally lower starting from 2018 at the national level and for the eight sectoral groups. Similarly, this study finds that the synchronization intensity associated with the house price index of each city generally switches to a lower level starting from early 2019.

Originality/value

Results here should be of use to policy design and analysis aiming at housing market evaluations and monitoring.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 8 December 2022

Sadrodin Moqadam and Linda Nubani

The present study, based on a comparative analysis of several historic houses in Shiraz, presents a new perspective on uncovering the role of the social lives of homeowners in the…

106

Abstract

Purpose

The present study, based on a comparative analysis of several historic houses in Shiraz, presents a new perspective on uncovering the role of the social lives of homeowners in the formation of the spatial configurations of their houses.

Design/methodology/approach

Twelve plans were selected and analyzed using space syntax techniques. The spatial characteristics were compared mathematically using integration, intelligibility and axial synergy.

Findings

The results of the research showed that spatial configurations reflected the social identity of their homeowners as well as their cultural and private beliefs. The results further highlighted the syntactical differences between different types of one courtyard houses, two courtyard houses and three courtyard houses. While privacy was maintained across all housing layouts, centralized one-courtyard typography had the highest synergy while the three-courtyard typology had the highest intelligibility.

Originality/value

This research advances the use of space syntax approach in the design of contemporary housing by recognizing the socio-cultural values of its occupants.

Details

Archnet-IJAR: International Journal of Architectural Research, vol. 18 no. 1
Type: Research Article
ISSN: 2631-6862

Keywords

Book part
Publication date: 5 April 2024

Corey Fuller and Robin C. Sickles

Homelessness has many causes and also is stigmatized in the United States, leading to much misunderstanding of its causes and what policy solutions may ameliorate the problem. The…

Abstract

Homelessness has many causes and also is stigmatized in the United States, leading to much misunderstanding of its causes and what policy solutions may ameliorate the problem. The problem is of course getting worse and impacting many communities far removed from the West Coast cities the authors examine in this study. This analysis examines the socioeconomic variables influencing homelessness on the West Coast in recent years. The authors utilize a panel fixed effects model that explicitly includes measures of healthcare access and availability to account for the additional health risks faced by individuals who lack shelter. The authors estimate a spatial error model (SEM) in order to better understand the impacts that systemic shocks, such as the COVID-19 pandemic, have on a variety of factors that directly influence productivity and other measures of welfare such as income inequality, housing supply, healthcare investment, and homelessness.

Details

Essays in Honor of Subal Kumbhakar
Type: Book
ISBN: 978-1-83797-874-8

Keywords

Article
Publication date: 2 April 2024

Omokolade Akinsomi, Mustapha Bangura and Joseph Yacim

Several studies have examined the impact of market fundamentals on house prices. However, the effect of economic sectors on housing prices is limited despite the existence of…

Abstract

Purpose

Several studies have examined the impact of market fundamentals on house prices. However, the effect of economic sectors on housing prices is limited despite the existence of two-speed economies in some countries, such as South Africa. Therefore, this study aims to examine the impact of mining activities on house prices. This intends to understand the direction of house price spreads and their duration so policymakers can provide remediation to the housing market disturbance swiftly.

Design/methodology/approach

This study investigated the effect of mining activities on house prices in South Africa, using quarterly data from 2000Q1 to 2019Q1 and deploying an auto-regressive distributed lag model.

Findings

In the short run, we found that changes in mining activities, as measured by the contribution of this sector to gross domestic product, impact the housing price of mining towns directly after the first quarter and after the second quarter in the non-mining cities. Second, we found that inflationary pressure is instantaneous and impacts house prices in mining towns only in the short run but not in the long run, while increasing housing supply will help cushion house prices in both submarkets. This study extended the analysis by examining a possible spillover in house prices between mining and non-mining towns. This study found evidence of spillover in housing prices from mining towns to non-mining towns without any reciprocity. In the long run, a mortgage lending rate and housing supply are significant, while all the explanatory variables in the non-mining towns are insignificant.

Originality/value

These results reveal that enhanced mining activities will increase housing prices in mining towns after the first quarter, which is expected to spill over to non-mining towns in the next quarter. These findings will inform housing policymakers about stabilising the housing market in mining and non-mining towns. To the best of the authors’ knowledge, this study is the first to measure the contribution of mining to house price spillover.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 6 June 2023

Xingrui Zhang and Eunhwa Yang

Housing market research involves observing the relationships between housing value and its indicators. However, recent literature indicates that the disruption of the COVID-19…

Abstract

Purpose

Housing market research involves observing the relationships between housing value and its indicators. However, recent literature indicates that the disruption of the COVID-19 pandemic could have an impact on the forecasting properties of some of the housing indicators. This paper aims to observe the relationships between the home value index and three potential indicators to verify their forecasting properties pre- and post-COVID-19 and provide general recommendations for time series research post-pandemic.

Design/methodology/approach

This study features three vector autoregression (VAR) models constructed using the home value index of the USA, together with three indicators that are of interest according to recent literature: the national unemployment rate, private residential construction spending (PRCS) and the housing consumer price index (HCPI).

Findings

Unemployment, one of the prevalent indicators for housing values, was compromised as a result of the COVID-19 pandemic, and a new indicator for housing value in the USA, PRCS, whose relationship with housing value is robust even during the COVID-19 pandemic and HCPI is a more significant indicator for housing value than the prevalently cited All-Item consumer price index (CPI).

Originality/value

The study adds residential construction spending into the pool of housing indicators, proves that the finding of region-specific study indicating the unbounding of housing prices from unemployment is applicable to the aggregate housing market in the USA, and improves upon such widely accepted belief that overall inflation is a key indicator for housing prices and proves that the CPI for housing is a vastly more significant indicator.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 1
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 April 2024

Sunil D. Santha, Devisha Sasidevan, Atul Raman, Khadeeja Naja Ali, Soofiya Yoosuf, Deepankar Panda and Gauri Shenoy

This paper showcases how the PAR embedded in posthumanist perspectives enabled us to navigate several complexities in the field through methodological situatedness and pluralism…

Abstract

Purpose

This paper showcases how the PAR embedded in posthumanist perspectives enabled us to navigate several complexities in the field through methodological situatedness and pluralism. It also attempts to critically outline the drivers and barriers that shaped our capacities to engage with the PAR.

Design/methodology/approach

The Tamil Nadu state in the Bay of Bengal along the southeast coast of India is one of the six regions in the world where severe tropical cyclones originate throughout the year. Storm surges in this region are well known for their destructive potential due to strong winds and heavy rainfall. This paper describes our participatory action research (PAR) journey towards strengthening grassroots action by providing access to safe and affordable housing for cyclone-impacted households (CIHs) in the Villupuram district of Tamil Nadu, India. The PAR was guided by an adaptive innovation model (AIM) that draws inspiration from posthumanism, action research and reflective practice traditions.

Findings

The insights from the PAR insist that we must recognise and work with diverse knowledge systems and situated practices to develop meaningful disaster risk reduction (DRR) and climate adaptation strategies. Our approach has to be rooted in the lived experiences of various vulnerable groups, their entanglements with nature and their everyday struggles of interacting with a complex social-ecological system.

Originality/value

This paper is an outcome of a PAR in a cyclone-impacted village in Tamil Nadu, India. The discussions and findings of the paper are original in nature and have not been published elsewhere.

Details

Disaster Prevention and Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0965-3562

Keywords

Article
Publication date: 18 April 2024

Anton Salov

The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.

Abstract

Purpose

The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.

Design/methodology/approach

This paper incorporates two empirical approaches to describe the behaviour of property prices across British regions. The models are applied to two different data sets. The first empirical approach is to apply the price diffusion model proposed by Holly et al. (2011) to the UK house price index data set. The second empirical approach is to apply a bivariate global vector autoregression model without a time trend to house prices and transaction volumes retrieved from the nationwide building society.

Findings

Identifying shocks to London house prices in the GVAR model, based on the generalized impulse response functions framework, I find some heterogeneity in responses to house price changes; for example, South East England responds stronger than the remaining provincial regions. The main pattern detected in responses and characteristic for each region is the fairly rapid fading of the shock. The spatial-temporal diffusion model demonstrates the presence of a ripple effect: a shock emanating from London is dispersed contemporaneously and spatially to other regions, affecting prices in nondominant regions with a delay.

Originality/value

The main contribution of this work is the betterment in understanding how house price changes move across regions and time within a UK context.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 31 October 2022

Seyedeh Mehrangar Hosseini, Behnaz Bahadori and Shahram Charkhan

The purpose of this study is to identify the situation of spatial inequality in the residential system of Tehran city in terms of housing prices in the year 2021 and to examine…

Abstract

Purpose

The purpose of this study is to identify the situation of spatial inequality in the residential system of Tehran city in terms of housing prices in the year 2021 and to examine its changes over time (1991–2021).

Design/methodology/approach

In terms of purpose, this study is applied research and has used a descriptive-analytical method. The statistical population of this research is the residential units in Tehran city 2021. The average per square meter of a residential unit in the level of city neighborhoods was entered in the geographical information system (GIS) in 2021. Moran’s spatial autocorrelation method, map cluster analysis (hot and cold spots) and Kriging interpolation have been used for spatial analysis of points. Then, the change in spatial inequality in the residential system of Tehran city has been studied and measured based on the price per square meter of a residential unit for 30 years in the 22 districts of Tehran by using statistical clustering based on distance with standard deviation.

Findings

The result of spatial autocorrelation analysis with a score of 0.873872 and a p-value equal to 0.000000 indicates a cluster distribution of housing prices throughout the city. The results of hot spots show that the highest concentration of hot spots (the highest price) is in the northern part of the city, and the highest concentration of cold spots (the lowest price) is in the southern part of Tehran city. Calculating the area and estimating the quantitative values of data-free points by the use of the Kriging interpolation method indicates that 9.95% of Tehran’s area has a price of less than US$800, 17.68% of it has a price of US$800 to US$1,200, 25.40% has the price of US$1,200 to US$1,600, 17.61% has the price of US$1,600 to US$2,000, 9.54% has the price of US$2,000 to US$2,200, 6.69% has the price of US$2,200 to US$2,600, 5.38% has the price of US$2,600 to US$2,800, 4.59% has the price of US$2,800 to US$3,200 and finally, the 3.16% has a price more than US$3,200. The highest price concentration (above US$3,200) is in five neighborhoods (Zafaranieh, Mahmoudieh, Tajrish, Bagh-Ferdows and Hesar Bou-Ali). The findings from the study of changes in housing prices in the period (1991–2021) indicate that the southern part of Tehran has grown slightly compared to the average range, and the western part of Tehran, which includes the 21st and 22nd regions with much more growth than the average price.

Originality/value

There is massive inequality in housing prices in different areas and neighborhoods of Tehran city in 2021. In the period under study, spatial inequality in the residential system of Tehran intensified. The considerable increase in housing prices in the housing market of Tehran has made this sector a commodity, intensifying the inequality between owners and non-owners. This increase in housing price inequality has caused an increase in the informal living for the population of the southern part. This population is experiencing a living situation that contrasts with the urban plans and policies.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

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