Spatial connectivity and house price diffusion: The case of Greater Sydney and the regional cities and centres of new south wales (NSW) in Australia

Bangura, M; Lee, CL

Spatial connectivity and house price diffusion: The case of Greater Sydney and the regional cities and centres of new south wales (NSW) in Australia

Bangura, M

Lee, CL

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Publisher:: Elsevier
Publication Type:: Journal Article
Citation:: Habitat International, 2023, 132, pp. 1-12
Issue Date:: 2023-02-01

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Field	Value	Language
dc.contributor.author	Bangura, M https://orcid.org/0000-0001-6753-8583
dc.contributor.author	Lee, CL
dc.date.accessioned	2024-01-25T22:40:39Z
dc.date.available	2024-01-25T22:40:39Z
dc.date.issued	2023-02-01
dc.identifier.citation	Habitat International, 2023, 132, pp. 1-12
dc.identifier.issn	0197-3975
dc.identifier.issn	1873-5428
dc.identifier.uri	http://hdl.handle.net/10453/174961
dc.description.abstract	Studies on house price linkage in a market delineated by coastal cities are still exploratory. By considering the oceanfront feature in delineating housing market, we case-studied Greater Sydney and a group of coastal cities in the state of NSW in Australia to examine the diffusion pattern between these cities and provide some spatial and theoretical explanations for these patterns, if any. We found strong house price linkage between Greater Sydney and each of the cities in the Illawarra region, while there is no comparable evidence for the cities in the Hunter region. The results suggest that strong spatial connectivity between coastal cities defined by travelling time, distance, and net migration, contributes to the convergence of housing markets. Housing prices flow exclusively from Greater Sydney to the coastal cities and centres of Kiama, Shellharbour, and Wollongong without any reciprocal effect. These findings vividly show the migration hypothesis prevails as priced-out households in Greater Sydney move to the Illawarra region due to house price and growth differentials. Finally, the responsiveness of Greater Sydney to variations in market fundamentals further confirms the migration diffusion pattern between the cities in the Illawarra region and Greater Sydney. These findings have significant implications for policymakers seeking to address imbalances between centres and growth areas.
dc.language	English
dc.publisher	Elsevier
dc.relation.ispartof	Habitat International
dc.relation.isbasedon	10.1016/j.habitatint.2022.102740
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.subject	1202 Building, 1205 Urban and Regional Planning, 1604 Human Geography
dc.subject.classification	Urban & Regional Planning
dc.subject.classification	3304 Urban and regional planning
dc.subject.classification	4404 Development studies
dc.subject.classification	4406 Human geography
dc.title	Spatial connectivity and house price diffusion: The case of Greater Sydney and the regional cities and centres of new south wales (NSW) in Australia
dc.type	Journal Article
utslib.citation.volume	132
utslib.for	1202 Building
utslib.for	1205 Urban and Regional Planning
utslib.for	1604 Human Geography
pubs.organisational-group	University of Technology Sydney
pubs.organisational-group	University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	embargoed	*
pubs.consider-herdc	false
utslib.copyright.embargo	2025-02-01T00:00:00+1000Z
dc.date.updated	2024-01-25T22:40:37Z
pubs.publication-status	Published
pubs.volume	132

Abstract:

Studies on house price linkage in a market delineated by coastal cities are still exploratory. By considering the oceanfront feature in delineating housing market, we case-studied Greater Sydney and a group of coastal cities in the state of NSW in Australia to examine the diffusion pattern between these cities and provide some spatial and theoretical explanations for these patterns, if any. We found strong house price linkage between Greater Sydney and each of the cities in the Illawarra region, while there is no comparable evidence for the cities in the Hunter region. The results suggest that strong spatial connectivity between coastal cities defined by travelling time, distance, and net migration, contributes to the convergence of housing markets. Housing prices flow exclusively from Greater Sydney to the coastal cities and centres of Kiama, Shellharbour, and Wollongong without any reciprocal effect. These findings vividly show the migration hypothesis prevails as priced-out households in Greater Sydney move to the Illawarra region due to house price and growth differentials. Finally, the responsiveness of Greater Sydney to variations in market fundamentals further confirms the migration diffusion pattern between the cities in the Illawarra region and Greater Sydney. These findings have significant implications for policymakers seeking to address imbalances between centres and growth areas.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/174961