Bracke, Philippe (2013) House prices and rents: micro evidence from a matched dataset in Central London. SERC discussion papers (SERCDP0127). Spatial Economics Research Centre, London School of Economics and Political Science, London, UK. (Submitted)
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Abstract
Using the proprietary dataset of a real estate agency, I analyse tens of thousands of housing sale and rental transactions in Central London during the 2005-2011 period. I run hedonic regressions on both prices and rents and show that price-rent ratios are higher for bigger and more central units. Since this result could be driven by differences in unobserved characteristics between properties for sale and properties for rent, I replicate my analysis using only units that were both sold and rented out within 6 months, and get similar results. I discuss several possible explanations for my findings.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://www.spatialeconomics.ac.uk/ |
| Additional Information: | © 2013 The Author |
| Divisions: | Economics Spatial Economics Research Centre |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HC Economic History and Conditions H Social Sciences > HF Commerce H Social Sciences > HG Finance |
| JEL classification: | G - Financial Economics > G1 - General Financial Markets > G10 - General R - Urban, Rural, and Regional Economics > R2 - Household Analysis > R21 - Housing Demand R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R31 - Housing Supply and Markets |
| Date Deposited: | 14 Jun 2013 15:48 |
| Last Modified: | 13 Sep 2024 20:23 |
| Funders: | Economic and Social Research Council, Department for Business Innovation & Skills, Welsh Assembly Government |
| URI: | http://eprints.lse.ac.uk/id/eprint/49723 |
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