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This paper aims to use Markov switching vector auto regression (MSVAR) methods to examine UK house price cycles in UK regions at NUTS1 level. There is extensive literature on UK regional house price dynamics, yet empirical work focusing on the duration and magnitude of regional housing cycles has received little attention. The research findings indicate that the regional structure of UK exhibits that UK house price changes are best described as two large groups of regions with marked differences in the amplitude and duration of the cyclical regimes between the two groups.

MSVAR principal component analysis NUTS1 data are used.

The housing cycles can be divided into two super regions based on magnitude, duration and the way they behave during recession, boom and sluggish periods. A north-south divide, a uniform housing policy and a monetary policy increase the diversion among the regions.

Markov switching needs high-frequency data and long time spans.

Questions a uniform housing policy in a heterogeneous housing market. Questions the impact of monetary policy on a heterogeneous housing market. The way the recovery of the housing market varies among regions depends on regional economic performance, housing market structure and the labour market. House price convergence, beta-convergence.

No such work has been done looking at duration and magnitude of regional housing cycles. A new econometric method was used.

Introduction Over the last fifteen years the tonnage of zinc used by the U.K. general galvanizing industry has increased by about 15%. During the same period the tonnage of steelwork galvanized has increased by over 50%. These figures indicate a change in the pattern of use of galvanized steel and, in this article, these changes and the reasons for them will be discussed. The galvanizing industry is embarking on an expanded marketing campaign and there is every indication that, under the impetus of this campaign, the tonnage of steel galvanized will be still further greatly increased.

Certain classes of organic chemicals that can behave like carbon black in protecting polythene from thermal degredation have recently been developed at Bell Telephone laboratories in the U.S.A. Mrs. A. Worthington and Dr. W. L. Hawkins described their discovery at a recent meeting of the American Chemical Society in New York. They demonstrated that a number of compounds containing alternating unsaturated bonds provide excellent thermal anti‐oxidant properties in combination with previously reported sulphur‐bearing compounds.

This chapter, together with those that follow, builds upon the ideas presented in the previous volume in this series (Maginn, Thompson, & Tonts, 2008). There we outlined our vision for a ‘pragmatic renaissance’ in contemporary qualitative research in urban studies. We argued that to survive as an effective and frequently used tool for policy development, a more systematic approach is needed in the way that qualitative-informed applied urban research is conceptualised and undertaken. In opening this volume we build on these initial ideas using housing as a meta-case study to progress the case for a systematic approach to qualitative research methods. We do this to both stimulate broad debate about the ways, in which qualitative research in urban/housing scholarship might be of greater use to policymakers and practitioners, as well as to suggest a way forward in realising the ‘pragmatic renaissance’.

The above Congress, being held at the Imperial College of Science and Technology, London, from April 10–15, has been described as likely to be the corrosion event of the decade. Size alone is no criterion, though over 80 papers are being presented, but the standing of many of the corrosionists associated with the Congress is, perhaps, the best indication of the truth of this statement. Summaries and abstracts of some of the papers appear in the following pages. More will be published in next month's issue.

This paper aims to examine the housing market in Greece after the Global Financial Crisis focussing on regional analysis and urban markets in Athens and Thessaloniki.

The paper uses a data set of over 70,750 property values from 2007 until 2014 incorporating characteristics variables upon which hedonic models are estimated. These form the bases for calculating value indices for mix adjusted houses/apartments by year and region. The indices are used in a panel model in which regional and economic variables are included as independent variables. Using advances in dynamic panel data modelling, a bias-corrected least squares dummy variable corrected (LSDVC) model is applied.

Results indicate the importance of macroeconomic variables in terms of the role of disposable income and significantly different regional effects. Examining the major urban markets, results indicate significant differences in the response of house values to exogenous demand side influences, consistent with the finding of significant regional differences in the LSDVC.

While data on valuations are used that may contain smoothing, the data set covers a large sample of residential properties. As regional economic differences are significant and persistent, housing markets will also behave differently, and hence national policies, unless targeted, will have regionally differentiated effects.

Regional heterogeneity needs to be considered in model estimation.

Policymakers should consider regional differences to improve policy effectiveness.

This is the first paper to use a large sample of residential properties in Greece and apply the LSDVC model to overcome estimation biases.

The purpose of this paper is to assess the possibility of asymmetric impact of monetary policy on housing permits issued in each state of the USA.

The methodology and approach are based on the linear ARDL and nonlinear ARDL approach to error-correction modeling and asymmetric cointegration.

The linear models predict that money supply impact housing permits in 28 states in the short run and only nine states in the long run. However, the asymmetric effects are far more pervasive, highlighting the restrictive nature of the linear model. The results from the nonlinear model show at least one lag of positive and/or negative changes in money supply significantly impacts housing permits in nearly all states. Even in the long run, housing permits in 32 states share a long-run relationship with positive and/or negative changes in money supply. The authors also find contractionary monetary policy has a greater influence on housing permits in most states compared to expansionary policy.

For the first time, the authors use state-level data and asymmetric approach to assess the impact of monetary policy on house permits issued in each state of the USA.

This paper aims to explore the determinants of housing supply and the relationships between land supply and housing supply in terms of quantity and time in Shanghai, China.

Official statistical and property registration data[] from Shanghai are used to carry out multiple linear regression analysis.

The authors find that land supply affects housing supply with a three-year time lag. Both construction cost and housing price impact supply with a one-year time delay. The construction cost elasticities range from 0.74 to 1.51, while housing price elasticity is 2. The authors also find that plot ratio may play more important role in the developer’s first housing sale than either plot area or sales price. An average time period from obtaining the land for residential development until marketing the product is established at 36.8 months.

Only ordinary least squares method is applied in this analysis and the property portal on which this research relies is still at an early stage.

This research contributes to a wider understanding of issues surrounding housing supply in the local markets within China and provides the foundation for local government to better manage supply.

Studies have shown a correlation and predictive impact of sentiment on asset prices, including Twitter sentiment on markets and individual stocks. This paper aims to determine whether there exists such a correlation between Twitter sentiment and property prices.

The authors construct district-level sentiment indices for every district of Istanbul using a dictionary-based polarity scoring method applied to a data set of 1.7 million original tweets that mention one or more of those districts. The authors apply a spatial lag model to estimate the relationship between Twitter sentiment regarding a district and housing prices or housing price appreciation in that district.

The findings indicate a significant but negative correlation between Twitter sentiment and property prices and price appreciation. However, the percentage of check-in tweets is found to be positively correlated with prices and price appreciation.

The analysis is cross-sectional, and therefore, unable to answer the question of whether Twitter can Granger-cause changes in housing markets. Future research should focus on creation of a property-focused lexicon and panel analysis over a longer time horizon.

The findings suggest a role for Twitter-derived sentiment in predictive models for local variation in property prices as it can be observed in real time.

This is the first study to analyze the link between sentiment measures derived from Twitter, rather than surveys or news media, on property prices.

Literature reveals that local authorities in Scotland are required under the Housing (Scotland) Act 2001 to undertake housing need and demand assessment. Local authorities are required to ensure that their local housing strategies are evidenced with an assessment of housing need and demand. The housing needs and demand assessment (HNDA) framework was designed to help local authorities in Scotland provide the evidence base for local strategies. Since its introduction in 2014, there is a limited literature highlighting whether or not the framework has been effective. To this end, the purpose of this study was to evaluate the effectiveness of the HNDA framework as set in Scottish local authorities; this paper aims to highlight those factors that have been effective in the framework.

An evaluation to asses empirically the effectiveness of the HNDA framework in Scotland was conducted. The research involved a review of literature on the current HNDA framework in Scotland. A measure of the effectiveness of the HNDA framework was conducted via a questionnaire survey to get the practitioner’s perception from 32 Scottish local authorities. This was conducted to advance specific features that have been effective in the HNDA framework. The features were then ranked in terms of their degree of effectiveness.

The research in this paper identifies initial findings cited in literature of effective factors that impact on the effectiveness of typical projects and contextualises them in the HNDA framework in Scotland, the HNDA framework having all hallmarks of a project. Results from this study identified effectiveness factors that have a greater influence on the HNDA framework’s general effectiveness. These factors include amongst others: clearly defined and detailed scope; project monitoring and control; competent and experienced project managers; and sufficient and well-allocated resources.

By examining the factors individually, it can be stated that overall and based on literature and survey, the HNDA framework as used in Scotland has largely been successful. The success, however, is on a case by case basis. For example, those in remote-based local authorities expressed reservations on whether some of the identified effectiveness factors in the framework were effective while those in more metropolitan or larger local authorities were more upbeat with the HNDA framework.

No similar study has been carried out on effectiveness factors in the HNDA framework used in Scottish local authorities. The findings in this research, therefore, contribute to the literature that seeks to understand the mechanisms of an effective HNDA in general and the HNDA framework in Scotland in particular. Overall, it contributes to the housing debate by offering a Scottish perspective. The study is a precursor to the mechanism for the housing need and demand and funding success in Scotland.