Exploring linkages between housing submarkets: theory, evidence and policy implications (Record no. 104888)

MARC details
000 -LEADER
fixed length control field 02344cam a2200193 4500
001 - CONTROL NUMBER
control field ##L131873
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 051213n1999 000 0 eng u
035 ## - SYSTEM CONTROL NUMBER
System control number (Sirsi) u131873
041 0# - LANGUAGE CODE
Language code of text/sound track or separate title eng
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Jones, Colin
245 00 - TITLE STATEMENT
Title Exploring linkages between housing submarkets: theory, evidence and policy implications
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. London
Name of publisher, distributor, etc. RICS
Date of publication, distribution, etc. 1999
520 ## - SUMMARY, ETC.
Summary, etc. In the 1950s and 1960s a group of housing economists at Columbia University developed a framework for the analyses of urban housing markets which was based around the concept of housing submarkets (see, inter alia, Rapkin et al, 1953; Grigsby, 1963). Although more recently there has been widespread agreement amongst housing economists that submarkets should be adopted as a working hypothesis (Maclennan, 1982; Quigley, 1980; Rothenberg et al, 1991; Galster, 1996), the concept has often been ignored in applied studies where hedonic theory and the Alonso-Muth access-space framework have provided the empirical foundations. In this paper, we seek to demonstrate the usefulness of this framework in exploring the dynamics of urban housing markets. The paper is developed in a number of stages. First, we consider the implications of submarket existence for the way we theorise the operation of urban markets. Second, building on the submarket structure revealed in a recent empirical study of the Glasgow housing market (Watkins, 1998), we use a uniquely detailed data set of more than 10,000 transactions, to examine the linkages between submarkets. Specifically, the analysis examines the position of submarkets within the city's price structure, and the movements of residents between submarkets. Thirdly, we consider the policy implications of this analysis. In particular, the results allow us to consider the extent to which filtering takes place, and to consider the impact housing policy initiatives (including the Right to Buy) have had on household mobility patterns and the structure and operation of urban housing markets more generally. In the concluding section, we reflect on the usefulness of the submarket concept as a basis for understanding the dynamics of local housing markets.
520 ## - SUMMARY, ETC.
Summary, etc. This item is no longer available.
690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN)
Topical term or geographic name as entry element PROPERTY-PROPERTY MARKET
700 1# - ADDED ENTRY--PERSONAL NAME
Personal name Watkins, Craig
700 1# - ADDED ENTRY--PERSONAL NAME
Personal name Leishman, Chris
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Suppress in OPAC 0
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    Dewey Decimal Classification     Virtual Virtual Online 13/12/2005   ONLINE PUBLICATION 131873-1001 06/08/2019 1 06/08/2019 Book