| UKhouse {GCCfactor} | R Documentation |
England and Wales House Price Growth Data Categorised by Regions
Description
A data.frame containing the quarterly (mean) house prices of four different types of properties, (detached, semi-detached, terraced and flats/maisonettes) for 331 local planning authorities (LPA) over the period 1996Q1 to 2021Q2. See also Lin and Shin (2023).
Usage
UKhouse
Format
## 'UKhouse'
Details
Each LPA belongs to one of the ten regions: North East (NE), North West (NW),
Yorkshire and the Humber (YH), East Midlands (EM), West Midlands(WM),
East of England (EE), London (LD), South East (SE), South West (SW) and Wales (WA).
The real house price growth of the j-th LPA-type pair in region
i by deflating the nominal house price by CPI and log-differencing it as
\pi_{ijt}=100\times \log\left(\frac{PRICE_{ijt}}{CPI_{t}}\right)-100 \times
\log\left(\frac{PRICE_{ij,t-1}}{CPI_{t-1}}\right).
By removing the series with missing observations, it ends up with a balanced panel
with R = 10, N =\sum_{i=1}^{R} N_{i} = 1300 and T = 102.
Columns in the dataset:
"Date" Time variable.
"Region" Name of region which the LPA belongs to.
"LPA" Name of the LPA.
"Type" Name of the house type.
"LPA_Type" Name of the LPA-type pair.
Source
Office for National Statistics (ONS), ONS website, statistical bulletin, House price statistics for small areas in England and Wales: year ending June 2021
References
Lin, R. and Shin, Y., 2022. Generalised Canonical Correlation Estimation of the Multilevel Factor Model. Available at SSRN 4295429.