Mikhailitchenko, Serguei (2008) The Australian housing market: Price dynamics and capital stock growth. PhD thesis, Griffith University, Australia.
Abstract
This study was motivated by the desire to contribute to the understanding of the movement of house prices and the role of the so-called economic 'fundamentals' in the housing market, especially within an Australian context. The core objective of this thesis is to aid understanding of the economic and other mechanisms by which the Australian housing market operates. We do this by constructing an analytical framework, or model, that encompasses the most important characteristics of the housing market. This thesis examines two important aspects of the Australian housing market: movements of house prices and changes in the net capital stock of dwellings in Australia. Movements of house prices are modelled from two perspectives: firstly, using the 'fundamental' approach, which explains the phenomena by changes in such 'fundamental' explanatory variables as income, interest rates, population and prices of building materials, and secondly, by analysing spatial interdependence of house prices in Australian capital cities. Changes in stock of dwellings were also modelled on the basis of a 'fundamental' approach by states and for Australia as a whole.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Selvanathan, Saroja; Sing, Tarlock and Selvanathan, Anthony |
| Uncontrolled Keywords: | Australian housing market; price dynamics; capital stock growth; housing market; Australia; error-correction mechanism |
| Index terms: | Australia, building material, house price, capital stock, income, dynamics, interdependence, movement, interest rate, population, housing, analytical framework |
| Subjects: | systems engineering, organizational analysis, data analysis and analytics, building materials, Geography, demography, health behaviours and lifestyles, construction type, economic analysis |
| Topics: | Organizational Design, Design Practice, Urban Studies, Construction Technology, Business Strategy, Research Practice, Geographical Context, Engineering Principles |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here