Pryce, G. (2011) Bidding conventions and the degree of over-pricing in the market for houses. Urban Studies, 48(4), pp. 765-791. (doi: 10.1177/0042098010363496)
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Abstract
How do buyers decide whether a property is over-priced? Do they base their judgement simply on the difference between the asking price and the expected selling price? Or do they take into account local bidding conventions—the typical asking-selling price spread in the neighbourhood? This paper explores the implications of bidding conventions for the definition and measurement of the degree of over-pricing (DOP) and the effect this has on a survival model of time on the market. The paper also considers the impact of uncertainty and employs fractional polynomial regression to explore whether spatio-temporal variations in attribute prices affect market perceptions of over-pricing.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Pryce, Professor Gwilym |
| Authors: | Pryce, G. |
| Subjects: | H Social Sciences > H Social Sciences (General) |
| College/School: | College of Social Sciences > School of Social and Political Sciences > Urban Studies |
| Journal Name: | Urban Studies |
| ISSN: | 0042-0980 |
| ISSN (Online): | 1360-063X |
| Published Online: | 19 July 2010 |
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