Bracke, Philippe (2014) House prices and rents: microevidence from a matched data set in Central London. Real Estate Economics, 43 (2). pp. 253-529. ISSN 1080-8620
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Identification Number: 10.1111/1540-6229.12062
Abstract
I analyze a real estate agency's proprietary dataset containing tens of thousands of housing sale and rental transactions in Central London during the 2006-2012 period. I isolate 1,922 properties that were both sold and rented out within six months and measure their rent-price ratios. I find that rent-price ratios are lower for bigger and more central units. These stylized facts are consistent with the user cost formula and reflect differences in maintenance costs, vacancy rates, growth expectations and risk premia.
Item Type: | Article |
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Official URL: | http://onlinelibrary.wiley.com/doi/10.1111/reec.20... |
Additional Information: | © 2014 American Real Estate and Urban Economics Association |
Divisions: | LSE |
Subjects: | H Social Sciences > HC Economic History and Conditions |
JEL classification: | E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E66 - General Outlook and Conditions |
Date Deposited: | 24 Jun 2014 14:29 |
Last Modified: | 10 Oct 2024 00:09 |
URI: | http://eprints.lse.ac.uk/id/eprint/57117 |
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