LE3 .A278 2021

2021

Beaudoin, Justin

Acadia University

Bachelor of Arts

Honours

Economics

Economics

This study seeks to examine the factors that affected real house prices in Nova Scotia in the last decade (2010 to 2020) using Nova Scotia census data from Statistics Canada along with parcel sales history and residential dwelling characteristics data from Datazone’s Nova Scotia property and municipal datasets. Hedonic price model theory is applied to house sale prices for Census Divisions in Nova Scotia over the decade 2010 to 2020 and the datasets were analyzed using Ordinary Least Square regression technique to estimate the factors that influenced house prices in the province during the time period under consideration. The results of the study showed that the main factors that affected the real price of houses in Nova Scotia during 2010 to 2020 were: location; sale date; building size; the number of bathrooms in a house; availability of a garage; availability of a finished basement; the construction quality of a house; if a house was detached, multi-unit, or multi-parcel; population; unemployment rate; housing supply; the percentage of the housing supply that is occupied; and the percentage of tenants living in subsidized housing. The number of bedrooms in a house and the percentage of the province’s population that is Aboriginal were other factors that were revealed to have affected the real price of houses in Nova Scotia. This study is valuable as the understanding of the factors that affect house prices is essential to policy makers in their devising of policies relating to the housing market, especially given the overall rise in house prices and the well-publicized issue of housing affordability in the province.

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https://scholar.acadiau.ca/islandora/object/theses:3676