South African house-price dynamics

 

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dc.contributor.advisor Barr, Graham en_ZA
dc.contributor.author Hutchings, Bradley en_ZA
dc.date.accessioned 2014-07-31T12:28:23Z
dc.date.available 2014-07-31T12:28:23Z
dc.date.issued 2007 en_ZA
dc.identifier.citation Hutchings, B. 2007. South African house-price dynamics. University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/5799
dc.description Includes abstract.
dc.description Includes bibliographical references (leaves 29-32).
dc.description.abstract Motivated by concerns that a speculative price bubble may have formed in the South African house market, this paper examines South African house-price dynamics over a three-decade period spanning 1976 to 2005. Estimation of error-correction models reveals that real changes in the prices of medium- and large-sized South African homes are associated with short-run changes in economic growth, real mortgage rates and sovereign risk. Empirical analysis suggests that the real prices of small-sized homes are not associated with real mortgage rates in the short run. Estimation of the house-price models also revealed that property prices exhibit mean reversion in the long run, although adjustment to long-run equilibrium (governed by economic growth, real mortgage rates and sovereign risk) is slow. en_ZA
dc.language.iso eng en_ZA
dc.subject.other Economics en_ZA
dc.title South African house-price dynamics en_ZA
dc.type Master Thesis
uct.type.publication Research en_ZA
uct.type.resource Thesis en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce en_ZA
dc.publisher.department School of Economics en_ZA
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom en_ZA
uct.type.filetype Text
uct.type.filetype Image
dc.identifier.apacitation Hutchings, B. (2007). <i>South African house-price dynamics</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/5799 en_ZA
dc.identifier.chicagocitation Hutchings, Bradley. <i>"South African house-price dynamics."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 2007. http://hdl.handle.net/11427/5799 en_ZA
dc.identifier.vancouvercitation Hutchings B. South African house-price dynamics. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 2007 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/5799 en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Hutchings, Bradley AB - Motivated by concerns that a speculative price bubble may have formed in the South African house market, this paper examines South African house-price dynamics over a three-decade period spanning 1976 to 2005. Estimation of error-correction models reveals that real changes in the prices of medium- and large-sized South African homes are associated with short-run changes in economic growth, real mortgage rates and sovereign risk. Empirical analysis suggests that the real prices of small-sized homes are not associated with real mortgage rates in the short run. Estimation of the house-price models also revealed that property prices exhibit mean reversion in the long run, although adjustment to long-run equilibrium (governed by economic growth, real mortgage rates and sovereign risk) is slow. DA - 2007 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2007 T1 - South African house-price dynamics TI - South African house-price dynamics UR - http://hdl.handle.net/11427/5799 ER - en_ZA


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