Housing Markets and Migration: Evidence from New Zealand

52 Pages Posted: 16 Jun 2008

See all articles by Steven Stillman

Steven Stillman

Free University of Bozen-Bolzano; IZA Institute of Labor Economics

David C. Maré

Motu Economic and Public Policy Research Trust; University of Waikato - Economics

Multiple version iconThere are 2 versions of this paper

Date Written: May 2008

Abstract

New Zealand's large and volatile external migration flows generate significant year-to-year fluctuations in the demand for residential housing. This paper uses population data from the 1986, 1991, 1996, 2001 and 2006 New Zealand Censuses, house sales price data from Quotable Value New Zealand and rent data from the Department of Building and Housing to examine how population change, international migration, including the return migration of New Zealanders abroad, and internal migration affect rents and sales prices of both apartments and houses in different housing markets in New Zealand. Our analysis focuses on the relationship between the changes in the population in local areas and changes in house sale prices and rents in these areas. Focusing on changes allows us to control for time-invariant unobservable characteristics of local areas that either attract or repel individuals and lead to differential costs of housing.

Keywords: Immigration, Housing Markets, House Prices, New Zealand, Internal Migration

JEL Classification: J61, R23

Suggested Citation

Stillman, Steven and Maré, David C., Housing Markets and Migration: Evidence from New Zealand (May 2008). Available at SSRN: https://ssrn.com/abstract=1146724 or http://dx.doi.org/10.2139/ssrn.1146724

Steven Stillman (Contact Author)

Free University of Bozen-Bolzano ( email )

Via Sernesi 1
39100 Bozen-Bolzano (BZ), Bozen 39100
Italy

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

David C. Maré

Motu Economic and Public Policy Research Trust ( email )

PO Box 24390
Wellington, 6021
New Zealand
64-4-9394250 (Phone)

HOME PAGE: http://www.motu.org.nz

University of Waikato - Economics

New Zealand

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
308
Abstract Views
1,250
rank
103,639
PlumX Metrics