The Mean Streets of Sydney

UNIVERSITY OF TECHNOLOGY SYDNEY
Finance Discipline Group 
Research Seminars in Finance
 
Topic: The Mean Streets of Sydney
 
Speaker: Robert Durand, Curtin University
 
Abstract:      
Bubbles are episodes where observed prices differ from what they should be. Exploiting the concept of spatial autocorrelation, we use data for 1,006,036 individual transactions yielding 80,113 postcode-month records on Sydney property prices from February 1996–December 2015 to create a proxy for bubbles for both apartments and houses. Bubbles exhibit positive and robust relationships to proxies for investors seeking lottery-like outcomes. Given the definition of bubbles, the presence of a bubble need not be related to changes in prices. We establish, however, that there are positive relationships of returns of Sydney apartments and houses.
 
A light lunch will be provided at 1p.m. Please RSVP for catering purposes to Mala Kapahi by 12 noon on Monday 19th March 2018.
 
Date: Wednesday, 21st  March 2018     
Time: 12.00 – 1.00 p.m.
Venue: University of Technology, Sydney
             Building 8, Room 8.002, Dr Chau Chak Wing Building
             Dr Chau Chak Wing Building
            14 - 28 Ultimo Road, Ultimo
 
Co-ordinator: Kris Glover  (Ph: +61 2 9514 7778)
 
Enquiries: Mala Kapahi (Ph: +61 2 9514 7777
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Acknowledgement of Country

UTS acknowledges the Gadigal people of the Eora Nation, the Boorooberongal people of the Dharug Nation, the Bidiagal people and the Gamaygal people, upon whose ancestral lands our university stands. We would also like to pay respect to the Elders both past and present, acknowledging them as the traditional custodians of knowledge for these lands.