This paper provides an update of an earlier study undertaken by one of the authors and extends the analysis by modelling the determinants of rates of return, using an appropriate cointegration based approach. A second major extension was to test formally whether rates of return have been...

This paper investigates the long-run convergence of regional house prices in the UK. Using a variety of econometric methods, existing studies have failed to reach a consensus on whether or not regional house prices are cointegrated and exhibit long-run constancy relative to each other. We...