Econometric Modelling of Average Housing Prices in Local Markets and the Price Anchoring Effect

Abstract

This paper employs the econometric models of relationships over time to evaluate the change in the unit prices of apartments on the local secondary markets in Warsaw and Szczecin, depending on various socioeconomic factors. Indicators reflecting the influence of socioeconomic aspects in these cities and the lagged values of housing prices, acting as so-called anchors in this model, were used as the independent variables.

Keywords

• econometric models of housing
• prices
• housing market
• price anchoring
• poland
• c50
• r20
• r21