{"id":{"repo_id":"cape-town","oai_identifier":"oai:open.uct.ac.za:11427/35892"},"canonical_url":"https://search.dev.ndltd.org/etd/cape-town/oai:open.uct.ac.za:11427/35892","repository":{"repo_id":"cape-town","name":"University of Cape Town","base_url":"https://open.uct.ac.za/oai/request"},"display":{"title":"The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa","abstract":"This study examines the dynamic short- and long-run causal relationship between South African real house prices and macroeconomic fundamentals (gross domestic product, mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the 2000Q1-2019Q4 period. The study utilizes a vector error correction model (VECM) to estimate the short- and long-run causal relationships while accounting for endogeneity and reverse causality. The results suggest the existence of a significant short-run and long-run association between house prices and macroeconomic fundamental variables under review. More specifically, the empirical results presented reveal that the gross domestic product and producer price index had the most impact on house prices compared to all other variables. Furthermore, any disequilibrium of house prices from its fundamental determinants in the short-run always self-corrects in the long run.","abstract_html":"This study examines the dynamic short- and long-run causal relationship between South African real house prices and macroeconomic fundamentals (gross domestic product, mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the 2000Q1-2019Q4 period. The study utilizes a vector error correction model (VECM) to estimate the short- and long-run causal relationships while accounting for endogeneity and reverse causality. The results suggest the existence of a significant short-run and long-run association between house prices and macroeconomic fundamental variables under review. More specifically, the empirical results presented reveal that the gross domestic product and producer price index had the most impact on house prices compared to all other variables. Furthermore, any disequilibrium of house prices from its fundamental determinants in the short-run always self-corrects in the long run.","abstract_has_math":false,"creators":["Lekhuleni, Thami Innocent"],"institution":"School of Economics","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":["Ndlovu, Godfrey"],"committee_chairs":[],"committee_members":[],"year":2021,"date_issued":"2021","date_published":"2021","updated_at":"2026-07-22T22:23:34Z","subjects":["Economics"],"languages":[],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/11427/35892","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["Ndlovu, Godfrey"]},{"key":"dc:creator","label":"Author","values":["Lekhuleni, Thami Innocent"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2022-03-04T07:31:19Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2022-03-04T07:31:19Z"]},{"key":"dc:date.issued","label":"Date","values":["2021"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["School of Economics"]},{"key":"dc:type","label":"Dc Type","values":["Master Thesis"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["Masters","MCom"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/11427/35892"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["This study examines the dynamic short- and long-run causal relationship between South African real house prices and macroeconomic fundamentals (gross domestic product, mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the 2000Q1-2019Q4 period. The study utilizes a vector error correction model (VECM) to estimate the short- and long-run causal relationships while accounting for endogeneity and reverse causality. The results suggest the existence of a significant short-run and long-run association between house prices and macroeconomic fundamental variables under review. More specifically, the empirical results presented reveal that the gross domestic product and producer price index had the most impact on house prices compared to all other variables. Furthermore, any disequilibrium of house prices from its fundamental determinants in the short-run always self-corrects in the long run."]},{"key":"dc:title","label":"Title","values":["The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa"]}]}],"canonical_facts":{"dc:contributor.advisor":["Ndlovu, Godfrey"],"dc:creator":["Lekhuleni, Thami Innocent"],"dc:date.accessioned":["2022-03-04T07:31:19Z"],"dc:date.available":["2022-03-04T07:31:19Z"],"dc:date.issued":["2021"],"dc:description.abstract":["This study examines the dynamic short- and long-run causal relationship between South African real house prices and macroeconomic fundamentals (gross domestic product, mortgage rate, exchange rate-USDZAR, affordability, household debt to disposable income, unemployment rate, share prices (JSE ALL share index), foreign direct investment, and producer price index) over the 2000Q1-2019Q4 period. The study utilizes a vector error correction model (VECM) to estimate the short- and long-run causal relationships while accounting for endogeneity and reverse causality. The results suggest the existence of a significant short-run and long-run association between house prices and macroeconomic fundamental variables under review. More specifically, the empirical results presented reveal that the gross domestic product and producer price index had the most impact on house prices compared to all other variables. Furthermore, any disequilibrium of house prices from its fundamental determinants in the short-run always self-corrects in the long run."],"dc:identifier.uri":["http://hdl.handle.net/11427/35892"],"dc:publisher.department":["School of Economics"],"dc:subject":["Economics"],"dc:title":["The dynamic effect of macroeconomic factors on housing prices: Evidence from South Africa"],"dc:type":["Master Thesis"],"dc:type.qualificationlevel":["Masters","MCom"]},"updated_at":"2026-07-22T22:23:34Z"}