Internal migration and house prices in Australia
研究了2014至2019年澳大利亚237个统计区内部迁移流入对房价的因果影响,发现迁移流入占当地人口1%时,悉尼和墨尔本等大都市区房价上涨0.52%至0.71%。
Australia is one of the most mobile countries in the world due to internal migration. This study provides the first evidence of the causal impact of internal migration inflow on house price changes across 237 statistical regions in Australia from 2014 to 2019. Employing a spatial correlation approach, the paper indicates that internal migration that amounts to 1% of the initial local area population is associated with a 0.52–0.71% increase in house prices in the three most populated states of Australia. Migration inflow has a significant positive effect on house price changes in metropolitan areas of Sydney and Melbourne rather than non-metropolitan regions.