RDP 2014-04: Home Price Beliefs in Australia Appendix C: Quantile Regression Output

Callan Windsor, Gianni La Cava and James Hansen

May 2014 – ISSN 1320-7229 (Print), ISSN 1448-5109 (Online)

Table C1: Explaining Home Valuation Differences across Postcodes
Appears pessimistic – 25th percentile
Age 0.004
Age2 −0.000
Tenure −0.002**
Log income 0.183***
Unemployment −0.018***
Education 0.060***
Sale price Inline Equation −0.154***
Constant −0.244
50th percentile
Age 0.005*
Age2 −0.000
Tenure −0.003***
Log income 0.131***
Unemployment −0.016***
Education 0.069***
Sale price Inline Equation −0.117***
Constant −0.080
Appears optimistic – 75th percentile
Age 0.007*
Age2 −0.000
Tenure −0.003***
Log income 0.105***
Unemployment −0.022***
Education 0.092***
Sale price Inline Equation −0.119***
Constant 0.293
Time fixed effects No
Postcode fixed effects No
Observations 2,551

Notes: Bootstrapped robust standard errors clustered at the postcode level; ***, ** and * indicate significance at the 1, 5 and 10 per cent level, respectively

Sources: APM; HILDA Release 11.0; authors' calculations