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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
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URI: https://cronfa.swan.ac.uk/Record/cronfa67463
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spelling v2 67463 2024-08-27 Rental Market Liquidity, Seasonality, and Distance to Universities bb42de9bf10d32bda4695327b3aa0470 0000-0002-0553-8518 Okan Yilmaz Okan Yilmaz true false 2d215b93ea1160b2f73dbeb4df908564 0000-0002-0419-2797 Joy Jia Joy Jia true false 2024-08-27 CBAE 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. Journal Article International Journal of the Economics of Business 29 2 223 239 Informa UK Limited 1357-1516 1466-1829 Big data; student housing; seasonality; survival analysis; rental markets 24 2 2022 2022-02-24 10.1080/13571516.2022.2033078 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University 2024-09-30T17:07:11.9908929 2024-08-27T09:03:42.6979683 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Okan Yilmaz 0000-0002-0553-8518 1 Oleksandr Talavera 2 Joy Jia 0000-0002-0419-2797 3 67463__31483__a6c59371600a4260a7cf79aabe7c277e.pdf 67463.VoR.pdf 2024-09-30T17:04:57.3270429 Output 2024238 application/pdf Version of Record true © 2022 The Author(s). This is an Open Access article distributed under the terms of the Creative Commons Attribution License. true eng https://creativecommons.org/licenses/by/4.0/deed.en
title Rental Market Liquidity, Seasonality, and Distance to Universities
spellingShingle Rental Market Liquidity, Seasonality, and Distance to Universities
Okan Yilmaz
Joy Jia
title_short Rental Market Liquidity, Seasonality, and Distance to Universities
title_full Rental Market Liquidity, Seasonality, and Distance to Universities
title_fullStr Rental Market Liquidity, Seasonality, and Distance to Universities
title_full_unstemmed Rental Market Liquidity, Seasonality, and Distance to Universities
title_sort Rental Market Liquidity, Seasonality, and Distance to Universities
author_id_str_mv bb42de9bf10d32bda4695327b3aa0470
2d215b93ea1160b2f73dbeb4df908564
author_id_fullname_str_mv bb42de9bf10d32bda4695327b3aa0470_***_Okan Yilmaz
2d215b93ea1160b2f73dbeb4df908564_***_Joy Jia
author Okan Yilmaz
Joy Jia
author2 Okan Yilmaz
Oleksandr Talavera
Joy Jia
format Journal article
container_title International Journal of the Economics of Business
container_volume 29
container_issue 2
container_start_page 223
publishDate 2022
institution Swansea University
issn 1357-1516
1466-1829
doi_str_mv 10.1080/13571516.2022.2033078
publisher Informa UK Limited
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
document_store_str 1
active_str 0
description 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.
published_date 2022-02-24T17:07:09Z
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score 11.037603

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