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Neighborhood diversity and the appreciation of native- and immigrant-owned homes

Cobb-Clark, Deborah A.; Sinning, Mathias

Description

This paper examines the effect of neighborhood diversity on the nativity gap in home-value appreciation in Australia. Specifically, immigrant homeowners experienced a 41.7% increase in median home values between 2001 and 2006, while the median value of housing owned by the native-born increased by 59.4% over the same period. We use a semi-parametric decomposition approach to assess the relative importance of the various determinants of home values in producing this gap. We find that the...[Show more]

dc.contributor.authorCobb-Clark, Deborah A.
dc.contributor.authorSinning, Mathias
dc.date.accessioned2015-12-08T22:33:25Z
dc.identifier.issn0166-0462
dc.identifier.urihttp://hdl.handle.net/1885/34671
dc.description.abstractThis paper examines the effect of neighborhood diversity on the nativity gap in home-value appreciation in Australia. Specifically, immigrant homeowners experienced a 41.7% increase in median home values between 2001 and 2006, while the median value of housing owned by the native-born increased by 59.4% over the same period. We use a semi-parametric decomposition approach to assess the relative importance of the various determinants of home values in producing this gap. We find that the differential returns to housing wealth are not related to changes in the nature of the houses or the neighborhoods in which immigrants and native-born homeowners live. Rather, the gap stems from the fact that over time there were differential changes across groups in the hedonic prices (i.e., returns) associated with the underlying determinants of home values.
dc.publisherElsevier
dc.sourceRegional Science and Urban Economics
dc.subjectKeywords: decomposition analysis; hedonic analysis; homeownership; housing market; international migration; neighborhood; urban economy; Australia D31; Decomposition analysis; F22; Homeownership; International migration
dc.titleNeighborhood diversity and the appreciation of native- and immigrant-owned homes
dc.typeJournal article
local.description.notesImported from ARIES
local.identifier.citationvolume41
dc.date.issued2011
local.identifier.absfor140211 - Labour Economics
local.identifier.ariespublicationU9501697xPUB115
local.type.statusPublished Version
local.contributor.affiliationCobb-Clark, Deborah A., University of Melbourne
local.contributor.affiliationSinning, Mathias, College of Business and Economics, ANU
local.description.embargo2037-12-31
local.bibliographicCitation.issue3
local.bibliographicCitation.startpage214
local.bibliographicCitation.lastpage216
local.identifier.doi10.1016/j.regsciurbeco.2011.01.006
local.identifier.absseo910201 - Consumption
dc.date.updated2016-02-24T12:00:19Z
local.identifier.scopusID2-s2.0-79953031998
local.identifier.thomsonID000289765300005
CollectionsANU Research Publications

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