| Title |
Exploring the Trend of New Zealand Housing Prices to Support Sustainable Development |
| ID_Doc |
71640 |
| Authors |
Zhao, LL; Mbachu, J; Liu, ZS |
| Title |
Exploring the Trend of New Zealand Housing Prices to Support Sustainable Development |
| Year |
2019 |
| Published |
Sustainability, 11.0, 9 |
| DOI |
10.3390/su11092482 |
| Abstract |
The New Zealand housing sector is experiencing rapid growth that has a significant impact on society, the economy, and the environment. In line with the growth, the housing market for both residential and business purposes has been booming, as have house prices. To sustain the housing development, it is critical to accurately monitor and predict housing prices so as to support the decision-making process in the housing sector. This study is devoted to applying a mathematical method to predict housing prices. The forecasting performance of two types of models: autoregressive integrated moving average (ARIMA) and multiple linear regression (MLR) analysis are compared. The ARIMA and regression models are developed based on a training-validation sample method. The results show that the ARIMA model generally performs better than the regression model. However, the regression model explores, to some extent, the significant correlations between house prices in New Zealand and the macro-economic conditions. |
| Author Keywords |
sustainable development; house prices; ARIMA; regression analysis; New Zealand |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Science Citation Index Expanded (SCI-EXPANDED); Social Science Citation Index (SSCI) |
| EID |
WOS:000469518700030 |
| WoS Category |
Green & Sustainable Science & Technology; Environmental Sciences; Environmental Studies |
| Research Area |
Science & Technology - Other Topics; Environmental Sciences & Ecology |
| PDF |
https://www.mdpi.com/2071-1050/11/9/2482/pdf?version=1556434240
|