European Parliament Library

United Kingdom :, Selected Issues

Label
United Kingdom :, Selected Issues
Language
eng
Abstract
This Selected Issues paper examines the factors determining housing prices in the United Kingdom. Based on econometric evidence, the paper assesses whether recent housing price increases can be explained by fundamentals or whether they represent a temporary overshooting of housing prices, characteristic of a bubble. The paper estimates a simple error-correction model that describes the dynamics of real housing prices since the 1970s. Estimation results suggest that earnings and interest rates are the key determinants of housing prices, and that changes in real housing prices exhibit a large degree of persistence
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
United Kingdom :
Nature of contents
dictionaries
Series statement
IMF Staff Country Reports
Sub title
Selected Issues
Content
Other version