THE NATURE OF HOUSING SUBMARKETS
||THE NATURE OF HOUSING SUBMARKETS
||Book of Abstracts: 15th Annual European Real Estate Society Conference in Kraków, Poland
||The housing submarkets literature has continued to grow but somewhat unevenly. It is typically atheoretical, concentrating on innovations in empirical methods for boundary identification and hedonic regression refinement. This paper aims to provide the first step towards the development of a taxonomy of submarkets based on six criteria: existence, dimensionality, spatiality, continuity, granularity/convexity, and stability. Consideration of these issues will, it is hoped, deepen and enrich our understanding of what we mean by housing market segmentation.
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