ABSTRACT
This book studies real estate market behaviour in the UK in an economic and econometric analytical framework. The book will examine patterns of real estate market fluctuations, and reveal its relationship with the economy. In particular, it will investigate the ways in which real estate influences, and is influenced by, the other sectors of the economy, and identify the sources and mechanism of shock transmission in the real estate market. As part of this approach, economic and econometric models will be developed to study real estate fluctuations and dynamics in both the short term and the long run and in a multivariate environment. Topics including common cycles and common trends, sources and persistence of shocks, and cointegration, error correction and market efficiency will be covered.
