The sources of housing prices growth in Kenya

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dc.contributor.authorStephen Githae Njaramba, Stephen Githae
dc.contributor.authorGachanja, Paul
dc.contributor.authorMugendi, Charles
dc.date.accessioned2019-05-30T12:47:34Z
dc.date.available2019-05-30T12:47:34Z
dc.date.issued2018
dc.descriptionResearch Articleen_US
dc.description.abstractPurpose: The objective of the study was to analyze the sources of housing prices growth in Kenya Methodology: The study used time series data for the period 1960 to 2015 and adopted an ARDL modeling approach. The model was useful as housing prices behaves differently from other goods’ prices, and as such, previous values of housing prices were necessary in estimations. The model also suited for small sample size and for its capacity to estimate short-run and long-run dynamics. The ARDL model also distinguishes dependent and explanatory variables. Results: The study findings showed that the sources of housing prices growth included household consumption expenditure, construction cost and property taxes both in the short-run and long-run. Private capital inflows and households’ indebtedness have a positive transitory effect to the housing prices. Against the popular view, supply of housing have no effect on housing prices. Unique contribution to theory, practice and policy: The Kenya National Housing Corporation needs to make public and encourage the use of readily available alternative building material besides the conventional material while not compromising on quality to address the overreaction of housing prices.en_US
dc.identifier.citationInternational Journal of Economics Vol.3, Issue 1, No.2, pp 7 - 30, 2018en_US
dc.identifier.issn2518-8437
dc.identifier.urihttp://ir-library.ku.ac.ke/handle/123456789/19480
dc.language.isoenen_US
dc.publisherInternational Peer Reviewed Journals and Books (IPRJB)en_US
dc.subjectHousing Pricesen_US
dc.subjectMacroeconomic Stabilityen_US
dc.subjectHousing Price Boom and Affordabilityen_US
dc.titleThe sources of housing prices growth in Kenyaen_US
dc.typeArticleen_US
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