Rental Market Liquidity, Seasonality, and Distance to Universities

IF 1.9 Q3 BUSINESS

International Journal of the Economics of Business Pub Date : 2022-02-24 DOI:10.1080/13571516.2022.2033078

O. Yılmaz, Oleksandr Talavera, J. Jia

引用次数: 1

Abstract

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.

查看原文本刊更多论文

租赁市场流动性、季节性和大学距离

摘要本文探讨了英国租赁市场的流动性如何对跨越时间和空间的需求变化作出反应。我们采用非参数风险率的生存分析方法来调查房产退出市场的概率是否在日历月之间发生变化。我们独特的数据集来自Zoopla.com，包含2015-2017年期间英国13个主要大学城的300,198个租赁列表。我们的研究结果表明，与夏季相比，冬季的退出概率较低。这可以用学生在学期开始时更高的住房需求来解释。当考虑到市场房产和大学校园之间的距离时，结果变得更加明显(即季节性差异更大)。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

International Journal of the Economics of Business BUSINESS-

CiteScore

2.60

自引率

8.30%

发文量

期刊介绍： International Journal of the Economics of Business presents original, peer reviewed research in economics that is clearly applicable to business or related public policy problems or issues. The term "business" is used in its widest sense to encompass both public and private sector—governmental, private non-profit and cooperative organizations, as well as profit-seeking enterprises. International Journal of the Economics of Business carries papers relating to three main spheres: The organization—to analyse and aid decision making and the internal organization of the business; The industry—to analyse how businesses interact and evolve within and across industries.