Global Journal of Economics and Business

Volume 13 - Issue 5 (5) | PP: 449 - 461 Language : English
DOI : https://doi.org/10.31559/GJEB2023.13.5.5
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Determinants of Housing Prices in South Africa: The Impact of Covid-19

Pradeep Brijlal ,
Brandon Hareb
Received Date Revised Date Accepted Date Publication Date
16/8/2023 11/9/2023 19/10/2023 5/11/2023
Abstract
Objectives: The present study aims to determine the relationship between selected macroeconomic and market variables, and South African housing prices, and the influence that Covid-19 had on South African housing prices, after holding for the effect of the change in selected macroeconomic, and market variables on housing prices. Method: Housing prices were determined via the macroeconomic and market variables of economic growth, unemployment, inflation, household debt-to-income, interest rates, foreign exchange rates, stock market returns, and Covid-19. Data collected were analysed using correlation and hierarchical multiple regression tests. Results: The findings indicated that pre-existing relationships between housing prices and traditional determinants of unemployment and household debt-to-income have changed. The results also indicated that housing prices increased during Covid-19 over-and-above the expected increase attributed to changes in the other selected predictor variables. Conclusion: These results provide an updated collection of housing price predictors for practitioners to utilise post-pandemic.


How To Cite This Article
Brijlal , P. & Hareb , B. (2023). Determinants of Housing Prices in South Africa: The Impact of Covid-19. Global Journal of Economics and Business, 13 (5), 449-461, 10.31559/GJEB2023.13.5.5

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