Template-Type: ReDIF-Paper 1.0
Author-Name:  Steven Stillman
Author-X-Name-First: Steve 
Author-X-Name-Last: Stillman
Author-Email:  stillman@motu.org.nz
Author-Workplace-Name: Motu Economic and Public Policy Research 
Author-Name:  David C. Maré
Author-X-Name-First: David C. 
Author-X-Name-Last: Maré
Author-Email: dave.mare@motu.org.nz
Author-Workplace-Name: Motu Economic and Public Policy Research 
Title: Housing Markets and Migration: Evidence from New Zealand
Abstract: New Zealand's large and volatile external migration flows generate significant year-to-year fluctuations in the demand for residential housing. This paper uses population data from the 1986, 1991, 1996, 2001 and 2006 New Zealand Censuses, house sales price data from Quotable Value New Zealand and rent data from the Department of Building and Housing to examine how population change, international migration, including the return migration of New Zealanders abroad, and internal migration affect rents and sales prices of both apartments and houses in different housing markets in New Zealand. Our analysis focuses on the relationship between the changes in the population in local areas and changes in house sale prices and rents in these areas. Focusing on changes allows us to control for time-invariant unobservable characteristics of local areas that either attract or repel individuals and lead to differential costs of housing.
Length:  49 pages
Creation-Date:  2008-04
File-URL: https://motu-www.motu.org.nz/wpapers/08_06.pdf
Number: 08_06
Classification-JEL: J61, R23
Keywords: Immigration, Housing Markets, House Prices, New Zealand, Internal Migration
Handle: RePEc:mtu:wpaper:08_06