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Rental Market Liquidity, Seasonality, and Distance to Universities
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Oleksandr Talavera,
Joy Jia
International Journal of the Economics of Business, Volume: 29, Issue: 2, Pages: 1 - 17
Swansea University Authors:
Okan Yilmaz , Joy Jia
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PDF | Version of Record
2022 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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DOI (Published version): 10.1080/13571516.2022.2033078
Abstract
This paper explores how liquidity in the UK rental markets reacts to variations in demand across time and space. We employ a survival analysis approach with a non-parametric hazard rate to investigate whether the probability of a property to exit the market changes across calendar months. Our unique...
| Published in: | International Journal of the Economics of Business |
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| ISSN: | 1357-1516 1466-1829 |
| Published: |
Informa UK Limited
2022
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| Online Access: |
Check full text
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa59211 |
| Abstract: |
This paper explores how liquidity in the UK rental markets reacts to variations in demand across time and space. We employ a survival analysis approach with a non-parametric hazard rate to investigate whether the probability of a property to exit the market changes across calendar months. Our unique dataset comes from Zoopla.com and contains 300,198 rental listings in 13 major UK university cities over the 2015–2017 period. Our results suggest that the probability of exit is lower during the winter season compared to summer. This could be explained by students’ higher housing demand at the start of the academic term. The results become more pronounced (i.e. the seasonal difference is higher) when the distance between marketed property and university campuses is taken into account. |
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| Keywords: |
Big data; student housing; seasonality; survival analysis; rental markets |
| College: |
Faculty of Humanities and Social Sciences |
| Issue: |
2 |
| Start Page: |
1 |
| End Page: |
17 |