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Rental Market Liquidity, Seasonality, and Distance to Universities

Okan Yilmaz Orcid Logo, Oleksandr Talavera, Joy Jia Orcid Logo

International Journal of the Economics of Business, Volume: 29, Issue: 2, Pages: 223 - 239

Swansea University Authors: Okan Yilmaz Orcid Logo, Joy Jia Orcid Logo

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DOI (Published version): 10.1080/13571516.2022.2033078

Abstract

This paper explores how liquidity in UK rental markets reacts to variations in demand across time and space. We employ a survival analysis approach with a non-parametric hazard rate to investigate whether the probability of renting changes across calendar months. Our unique dataset comes from Zoopla...

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Published in: International Journal of the Economics of Business
ISSN: 1357-1516 1466-1829
Published: Informa UK Limited 2022
Online Access: Check full text

URI: https://cronfa.swan.ac.uk/Record/cronfa67463
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Abstract: This paper explores how liquidity in UK rental markets reacts to variations in demand across time and space. We employ a survival analysis approach with a non-parametric hazard rate to investigate whether the probability of renting changes across calendar months. Our unique dataset comes from Zoopla. com and contains 300,198 rental listings in 13 major UK university cities over the 2015–17 period. Our results suggest that the probability of renting is lower during the winter season compared to summer. This could be explained by students’ higher housing demand at the start of the academic term. The results become more pronounced when the distance between marketed houses and university campuses is taken into account.
Keywords: Big data; student housing; seasonality; survival analysis; rental markets
College: Faculty of Humanities and Social Sciences
Issue: 2
Start Page: 223
End Page: 239

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