The study described in this paper focuses on testing the short-run and long-run relationships between house price and consumer price indices in Australia¡¦s capital cities from 1998 to 2008. The autoregressive distributed lag model is adopted to obtain the estimates of the short-run...

The inclusion of neighbourhood quality variables has been recognised as reducing the bias in house price indices and increasing the explanatory power of regression based hedonic indices. The ability to identify the type of purchaser is used in this paper to test the importance of neighbourhood...

On the background of current global mortgage crisis the article discusses the housing market theory and particularly the methods and indicators used for the evaluation of long-term sustainability of house price trends. The authors provide the time series of such indicators for selected OECD...