Effects of Immigration on House Price in Australia

Publisher:
Zhejiang University of Technology China
Publication Type:
Conference Proceeding
Citation:
Proceedings of the 8th Annual Conference of the Global Chinese Real Estate Congress on New Economy, New-type Urbanization and Sustainable Development in the Real Estate Industry, 2016, 1 (1), pp. 1 - 5 (5)
Issue Date:
2016-07-03
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Residential property prices have been increasing rapidly in recent years in Australia. The national stratified median house prices reached to A$701,827 in June quarter 2015 [1]. This paper examines the impacts of Australian migration on house prices for the period of March 1981 – June 2014. The relationships between house prices and immigration are estimated through a single error correction model (ECM). The estimated results suggest that net overseas migration contributed to house price appreciation in Australia. However, employment and supply factors also played major roles.
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