Modelling House Prices Across Sydney

17 Pages Posted: 3 Sep 2013

See all articles by Peter Abelson

Peter Abelson

Macquarie University

Roselyne Joyeux

Macquarie University - Department of Economics; Financial Research Network (FIRN); Macquarie University, Macquarie Business School

Stephane Mahuteau

Macquarie University - Economics Department

Date Written: September 2013

Abstract

This article models median house prices in 626 suburbs across Sydney, using three spatial hedonic models, and obtains high overall levels of explanation. Access to the central business district and the coast, as well as house and lot sizes, are predictably positive factors. Violent crime significantly depresses house values. Access to rail and high‐frequency bus services is weakly significant only when access is generally poor. However, neither access to a sub‐centre nor housing density was found to have a separate impact on house prices. Research using unit record data could refine the findings of this suburb‐level analysis.

Suggested Citation

Abelson, Peter and Joyeux, Roselyne and Mahuteau, Stephane, Modelling House Prices Across Sydney (September 2013). Australian Economic Review, Vol. 46, Issue 3, pp. 269-285, 2013, Available at SSRN: https://ssrn.com/abstract=2319598 or http://dx.doi.org/10.1111/j.1467-8462.2013.12013.x

Peter Abelson (Contact Author)

Macquarie University ( email )

North Ryde
Sydney, New South Wales 2109
Australia

Roselyne Joyeux

Macquarie University - Department of Economics ( email )

Sydney NSW 2109
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

Stephane Mahuteau

Macquarie University - Economics Department ( email )

North Ryde
Sydney, New South Wales 2109
Australia
612 9850 8489 (Phone)
612 9850 6069 (Fax)

HOME PAGE: http://www.econ.mq.edu.au/staff/position/staff_by_position/stephane_mahuteau

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