This research examines how population migration to particular suburbs or regions across Australia affects house prices in different suburbs and regions. Besides targeting policies that provide financial support for households experiencing housing stress in regional areas, policy-makers should be aware that policies focused on particular regions can have unintended consequences for nearby regions.

A study of market bubbles is generally considered a test of market eciency (or ineciency) since bubbles are concerned with rising prices that are detached from their fundamental values. Verifying the existence of such an ineciency requires us to be able to appropriately formulate fundamental value, which typically assumes homogeneous and rational investors. Requiring additional...