Journal articles on the topic 'Housing Australia Finance'
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Yates, Judith. "Private finance for social housing in Australia." Housing Policy Debate 5, no. 2 (January 1994): 177–202. http://dx.doi.org/10.1080/10511482.1994.9521159.
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Wood, Gavin A. "Housing Finance and Subsidy Systems in Australia." Urban Studies 27, no. 6 (December 1990): 847–76. http://dx.doi.org/10.1080/00420989020080881.
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Ma, Le, Richard Reed, and Jian Liang. "Separating owner-occupier and investor demands for housing in the Australian states." Journal of Property Investment & Finance 37, no. 2 (March 4, 2019): 215–32. http://dx.doi.org/10.1108/jpif-07-2018-0045.
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PurposeThere has been declining home ownership and increased acceptance of long-term renting in many western countries including Australia; this has created a problem when examining housing markets as there are dual demand and include both owner-occupiers and investors. The purpose of this paper is to examine the long-run relationship between house prices, housing supply and demand, and to estimate the effects of the two types of demand (i.e. owner-occupier and investor) on house prices.Design/methodology/approachThe econometric techniques for cointegration with vector error correction models are used to specify the proposed models, where the housing markets in the Australian states and territories illustrate the models.FindingsThe results highlight the regional long-run equilibrium and associated patterns in house prices, the level of new housing supply, owner-occupier demand for housing and investor demand for housing. Different types of markets were identified.Practical implicationsThe findings suggest that policies that depress the investment demand can effectively prevent the housing bubble from further building up in the Australian states. The empirical findings shed light in the strategy of maintaining levels of housing affordability in regions where owner-occupiers have been priced out of the housing market.Originality/valueThere has been declining home ownership and increased acceptance of long-term renting in many western countries including Australia; this has created a problem when examining housing markets as there are dual demand and include both owner-occupiers and investors. This research has given to the relationship between supply and dual demand, which includes owner-occupation and investment, for housing and the influence on house prices.
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Lee, Chyi Lin. "An examination of the risk-return relation in the Australian housing market." International Journal of Housing Markets and Analysis 10, no. 3 (June 5, 2017): 431–49. http://dx.doi.org/10.1108/ijhma-07-2016-0052.
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Purpose Extensive studies have investigated the relation between risk and return in the stock and major asset markets, whereas little studies have been done for housing, particularly the Australian housing market. This study aims to determine the relationship between housing risk and housing return in Australia. Design/methodology/approach The analysis of this study involves two stages. The first stage is to estimate the presence of volatility clustering effects. Thereafter, the relation between risk and return in the Australian housing market is assessed by using a component generalised autoregressive conditional heteroscedasticity-in-mean (C-CARCH-M) model. Findings The empirical results show that there is a strong positive risk-return relationship in all Australian housing markets. Specifically, comparable results are also evident in all housing markets in various Australian capital cities, reflecting that Australian home buyers, in general, are risk reverse and require a premium for higher risk level. This could be attributed the unique characteristics of the Australian housing market. In addition, there is evidence to suggest that a stronger volatility clustering effect than previously documented in the daily case. Practical implications The findings enable more informed and practical investment decision-making regarding the relation between housing return and housing risk. Originality/value This paper is the first study to offer empirical evidence of the risk-return relationship in the Australian housing market. Besides, this is the first housing price volatility study that utilizes daily data.
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Wang, Justine, Alla Koblyakova, Piyush Tiwari, and John S. Croucher. "Is the Australian housing market in a bubble?" International Journal of Housing Markets and Analysis 13, no. 1 (April 12, 2018): 77–95. http://dx.doi.org/10.1108/ijhma-03-2017-0026.
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Purpose This paper aims to explore principal drivers affecting prices in the Australian housing market, aiming to detect the presence of housing bubbles within it. The data set analyzed covers the past two decades, thereby including the period of the most recent housing boom between 2012 and 2015. Design/methodology/approach The paper describes the application of combined enhanced rigorous econometric frameworks, such as ordinary least square (OLS), Granger causality and the Vector Error Correction Model (VECM) framework, to provide an in-depth understanding of house price dynamics and bubbles in Australia. Findings The empirical results presented reveal that Australian house prices are driven primarily by four key factors: mortgage interest rates, consumer sentiment, the Australian S&P/ASX 200 stock market index and unemployment rates. It finds that these four key drivers have long-term equilibrium in relation to house prices, and any short-term disequilibrium always self-corrects over the long term because of economic forces. The existence of long-term equilibrium in the housing market suggests it is unlikely to be in a bubble (Diba and Grossman, 1988; Flood and Hodrick, 1986). Originality/value The foremost contribution of this paper is that it is the first rigorous study of housing bubbles in Australia at the national level. Additionally, the data set renders the study of particular interest because it incorporates an analysis of the most recent housing boom (2012-2015). The policy implications from the study arise from the discussion of how best to balance monetary policy, fiscal policy and macroeconomic policy to optimize the steady and stable growth of the Australian housing market, and from its reconsideration of affordability schemes and related policies designed to incentivize construction and the involvement of complementary industries associated with property.
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Lin Lee, Chyi. "Housing in Australia as a portfolio investment." International Journal of Housing Markets and Analysis 1, no. 4 (October 3, 2008): 352–61. http://dx.doi.org/10.1108/17538270810908641.
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Naoi, Michio, Piyush Tiwari, Yoko Moriizumi, Norifumi Yukutake, Norman Hutchison, Alla Koblyakova, and Jyoti Rao. "Household mortgage demand: a study of the UK, Australia and Japan." International Journal of Housing Markets and Analysis 12, no. 1 (February 4, 2019): 110–30. http://dx.doi.org/10.1108/ijhma-03-2017-0029.
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PurposeHomeownership has been the main focus of housing policies in most countries. Typical means that households use to achieve homeownership is to take out a loan and supplement this with accumulated wealth for a downpayment. This paper aims to analyze the mortgage demand behavior of households in the UK, Australia and Japan.Design/methodology/approachUsing three panel data sets, HILDA for Australia, KHPS for Japan and USS for the UK, the paper estimates three equations using ordinary least squares: mortgage demand function, housing demand function and initial loan to value ratio function.FindingsThough homeownership is a preferred tenure and the mortgages are “recourse” loans, housing markets in these three countries operate in different mortgage market institutional structures. Results indicate that income elasticity of mortgage demand differ despite income elasticity of housing demand being similar. Different mortgage institutions in countries that pose constraints for borrowers also determine mortgage demand. Other factors such as demography and economic conditions have also played an important role in determining mortgage and housing demand.Originality/valueThe paper is first, to the authors’ knowledge, that explores the role of institutions in mortgage demand in a comparative framework for the UK, Japan and Australia.
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Cheong, Tsun Se, and Jing Li. "Transitional distribution dynamics of housing affordability in Australia, Canada and USA." International Journal of Housing Markets and Analysis 11, no. 1 (February 5, 2018): 204–22. http://dx.doi.org/10.1108/ijhma-01-2017-0003.
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Purpose The main purpose of this paper is to explore the transitional dynamics of housing affordability indicators of major cities in three developed countries: the USA, Canada and Australia, in the period after the global financial crisis. As the global housing markets are more interconnected today, it is essential to investigate the demographic movement pattern and their impacts on housing market dynamics. Design/methodology/approach Based on the Markov transition matrix approach and the stochastic kernel technique, a newly established framework named the mobility probability plot (MPP) is adopted to investigate the city-level trends of housing affordability in the three countries during the period 2008-2015. Findings The results suggest that the transitional dynamics of the USA’s housing affordability trend saliently differs from those of Canada and Australia: in the USA, MPP results reveal that when the price-to-income (P/I) ratio is higher than 3.5 times, it has a high tendency of moving downward in the next period. In Australia, housing affordability tends to continue deteriorating when the P/I ratios are in the range from 8.0 to 8.6. In Canada, the MPP analysis indicates that the P/I ratios tend to increase further when the ratios are between 5.7 and 7.0, and within the range of 8.3-9.5. Originality/value This paper adopts an innovative approach to explore the city-level trends of housing affordability in the three developed countries during the period 2008-2015. The distribution dynamics approach has several virtues: first, this approach does not merely focus on the issue of housing affordability but also includes an analysis of the underlying housing affordability distribution. Second, it can clearly show the mobility of the city-level units in terms of the P/I change. Third, it can predict the proportion of the entities in different P/I ratio bands in a number of years ahead and even in the long run.
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Chong, Fennee. "Housing Price and Interest Rate Hike: A Tale of Five Cities in Australia." Journal of Risk and Financial Management 16, no. 2 (January 18, 2023): 61. http://dx.doi.org/10.3390/jrfm16020061.
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Australian housing prices are reported to be overvalued and unaffordable for the past two decades. Many researchers and practitioners have attributed the persistent growth in housing prices to the prolonged period of low borrowing costs. However, due to inflationary pressure, the Central Bank has raised its cash rate consecutively in recent months. This paper aims to examine whether interest rate rises affect housing price in different parts of Australia. Evidence generated from the analysis reported bipolar results between the large and smaller cities, whereby housing prices in Sydney and Melbourne show a significant negative relationship with interest rate changes while Brisbane and the Gold Coast and Perth and Adelaide, respectively, are showing negative but insignificant results during the study period. Short-run trend projections on housing prices indicate that Sydney, Melbourne, Brisbane and the Gold Coast are on a downward trend while Adelaide and Perth will maintain its current momentum before plateauing out later next year. Likewise, control variables, such as oil prices, inflation rate and stock market performance, are found to be related to housing prices in larger cities only. These findings have implications on housing policy, house purchase decisions and investment portfolio management strategy.
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McDonald, Sharyn. "Social partnerships addressing affordable housing and homelessness in Australia." International Journal of Housing Markets and Analysis 7, no. 2 (May 27, 2014): 218–32. http://dx.doi.org/10.1108/ijhma-10-2012-0046.
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Purpose – The purpose of this paper is to examine the formation of a cross-sector partnership in which a collaborative response addressed the issue of affordable housing and homelessness in Melbourne, Australia. Factors leading to the formation and evolution of the relationship reveal how social partnerships in the housing/construction industry can be formulated. Design/methodology/approach – Semi-structured interviews were held with representatives of the three sectors involved in an innovative social housing model, the Elizabeth Street Common Ground project. Supported with background documentation, interviews were coded and the results contrasted against theories pertaining to cross-sector collaboration. Findings – Several factors contributed to the formation of this partnership, most notably the strong social imperative found within the organisational ethos of the participating organisations. The opportunity to replicate a well-trialled and successful model coincided with the desire among all partners to be part of the solution. Originality/value – The results provide an insight into the ingredients pivotal to the formation of a successful multi-sector partnership. It highlights the value in sharing the best practice and the importance of networks when tackling major global problems such as affordable housing and homelessness.
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Rajapakse, Pelma, and Suri Rajapakse. "Impact of the regulatory regime on promoting the housing finance market in Australia." Law and Financial Markets Review 5, no. 4 (July 2011): 290–305. http://dx.doi.org/10.5235/175214411796505615.
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Sutrisna, Monty, Barry Cooper-Cooke, Jack Goulding, and Volkan Ezcan. "Investigating the cost of offsite construction housing in Western Australia." International Journal of Housing Markets and Analysis 12, no. 1 (February 4, 2019): 5–24. http://dx.doi.org/10.1108/ijhma-05-2018-0029.
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Purpose Offsite construction approaches and methodologies have been proffered a potential solution for controlling “traditional” projects, especially where high levels of complexity and uncertainty exist. Given this, locations such as Western Australia (WA), where there are unique housing provision challenges, offsite construction method was considered a potential solution for not only addressing the complexity/uncertainty challenges but also alleviating the housing shortage. However, whilst acknowledging the benefits of offsite construction, recognition was also noted on perceived barriers to its implementation, primarily relating to cost uncertainty. This recognition is exacerbated by very limited offsite construction cost data and information available in the public domain. In response to this, this paper sims to provide detailed cost analysis of three offsite construction projects in WA. Design/methodology/approach To hold parameters constant and facilitate cross-case comparative analysis, data were collected from three embedded case studies from three residential housing projects in WA. These projects represent the most contemporary implementation of offsite in WA; where two were completed in 2016/2017 and the third project was still ongoing during the data collection of this research. The research methodological approach and accompanying data analysis component engaged a variety of techniques, which was supported by archival study of project data and evidence gathered from the offsite construction provider. Findings Core findings revealed three emerging themes from residential offsite construction projects pertinent to cost. Specifically, the overall cost of delivering residential housing project with offsite construction techniques, the cost variability of offsite construction residential housing projects as impacted by uncertainties and the cash flow of residential offsite construction projects based on the payment term. These three major cost drivers are elucidated in this paper. Originality/value This research presents new cost insights to complement the wider adoption of offsite construction techniques. It presents additional information to address the limited cost data and information of offsite construction projects available in the public domain particularly for residential housing projects (within the bounded context of WA). It also highlights the further stages needed to enhance data validity, cognisant of universal generalisability and repeatability, market maturity and stakeholder supply chains.
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Reed, Richard. "Longitudinal new housing analysis – USA, Australia, Canada and France." International Journal of Housing Markets and Analysis 9, no. 4 (October 3, 2016): 425–28. http://dx.doi.org/10.1108/ijhma-07-2016-0054.
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Peng, Ti-Ching, and Chien-Fu Chen. "The effect of quality determinants on house prices of eight capital cities in Australia." International Journal of Housing Markets and Analysis 9, no. 3 (August 1, 2016): 355–75. http://dx.doi.org/10.1108/ijhma-06-2015-0028.
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Purpose This paper aims to examine the effects of “quality” as well as fundamentals on house prices in eight capital cities in Australia from 1985-2011. Two types of quality are considered: housing quality, proxied by “value of alterations and additions”, “value of new residential buildings”, “floor area” and “site area”; and living environment quality, proxied by “overall crime rate”. Design/methodology/approach The application of dynamic panel model, in which the lagged values of house prices are considered, is to reveal the dynamic persistence of house prices over time and to investigate the heterogeneity of house prices across cities in Australia. Findings Fundamental variables including “unemployment rate”, introduction of “GST” (Goods and Service Tax), “real mortgage rate” and “price-to-rent ratio” demonstrated their consistent and expected effects on property prices in Australia. More importantly, “value of new residential buildings” – indicating housing quality – and “overall crime rate” – representing environmental living quality – also demonstrated statistically significant effects on house prices. Originality/value As one of the few studies that attempt to take housing/living-environment quality into account in analysing house prices, it gives households, researchers and policy-makers a better understanding of the role of “quality” in the variation of house prices.
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Dockery, Alfred M. "Housing quality, remoteness and Indigenous children’s outcomes in Australia." Economic Analysis and Policy 73 (March 2022): 228–41. http://dx.doi.org/10.1016/j.eap.2021.11.013.
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Costello, Greg. "Land price dynamics in a large Australian urban housing market." International Journal of Housing Markets and Analysis 7, no. 1 (February 25, 2014): 42–60. http://dx.doi.org/10.1108/ijhma-11-2012-0059.
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Purpose – Housing is a composite asset comprising land and improved components varying as proportions of total value over space and time. Theory suggests land and improvements (structures) are unique goods responding differently to economic stimuli. This paper aims to test the expectation of different overall house price changes in response to variation in land and improved components. Design/methodology/approach – House price dynamics are decomposed to analyse the influence of land and structure components for the city of Perth, Australia both at aggregate level and for spatially defined housing sub-regions, sample period 1995-2010. Findings – Values of land and improvements on that land evolve differently over time and are significantly influenced by the magnitude of land leverage. The study extends previous research through extensive spatial disaggregation of a larger more detailed data set than previously used in studies of this type confirming significant variation in land leverage ratios, overall price change and growth rates for land and improvements in sub-regional markets defined by spatial criteria. Research limitations/implications – The results suggest an important role for policy development with respect to housing affordability and supply side regulation of land in large urban housing markets. Practical implications – The results suggest important implications for hedonic price analysis of housing markets. The inclusion of land leverage variables in hedonic regression could remove coefficient bias associated with omitted location amenity variables. Originality/value – The paper adapts methodology from previous studies but extends previous literature through detailed analysis of a large Australian housing market (Perth) enabling extensive spatial disaggregation of the sample and providing greater insight to spatial variation of land leverage than in previous studies.
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Sharam, Andrea, Lyndall Elaine Bryant, and Thomas Alves. "Identifying the financial barriers to deliberative, affordable apartment development in Australia." International Journal of Housing Markets and Analysis 8, no. 4 (October 5, 2015): 471–83. http://dx.doi.org/10.1108/ijhma-10-2014-0041.
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Purpose – The purpose of this paper is to identify the financial barriers to the supply of affordable apartments in Australia and examine whether demand aggregation and “deliberative development” (self-build) can form a new affordable housing “structure of provision”. Design/methodology/approach – Market design, an offshoot of game theory, is used to analyse the existing apartment development model, with “deliberative development” proposed as an innovative alternative. Semi-structured interviews with residential development financiers are used to evaluate whether deliberative development could obtain the requisite development finance. Findings – This investigation into the financial barriers of a deliberative development model suggests that, while there are hurdles, these can be addressed if key risks in the exchange process can be mitigated. Hence, affordability can be enhanced by “deliberative development” replacing the existing speculative development model. Research limitations/implications – Market design is a new innovative theoretical approach to understand the supply of housing, offering practical solutions to affordable apartment supply in Australia. Originality/value – This research identifies financial barriers to the supply of affordable apartments; introduces theoretical understandings gained from market design as an innovative solution; and provides evidence that a new structure of building provision based on “deliberative development” could become a key means of achieving more affordable and better designed apartments.
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Lee, Ming-Te, Chyi Lin Lee, Ming-Long Lee, and Chien-Ya Liao. "Price linkages between Australian housing and stock markets." International Journal of Housing Markets and Analysis 10, no. 2 (April 3, 2017): 305–23. http://dx.doi.org/10.1108/ijhma-05-2016-0037.
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Purpose The purpose of this study is to examine the linkages between Australian house prices and stock prices under the Toda and Yamamoto test framework. Specifically, it investigated whether there is a capital switching effect between house prices and stock prices. Design/methodology/approach This study examined the linkages between house prices and stock prices under the Toda and Yamamoto test framework. To accommodate the impact of the global financial crisis (GFC), a sub-period analysis was undertaken. To assess the impact of investor structure, the tests were also performed for small cap stocks and large cap stocks individually. Findings The empirical results reveal a negative lead–lag relationship between house prices and stock prices in Australia, suggesting the existence of capital switching activities between housing and stocks. The impact of the GFC on the lead–lag relationship between house prices and stock prices is also documented. Before the crisis, a causality transmission was running from house prices to stock prices, whilst stock prices appeared to lead house prices after the crisis. The capital switching activities between housing and stocks are more evident for small cap stocks. Originality/value This study is the first to examine the linkages between house prices and stock prices under the Toda and Yamamoto test framework. This is the first study to explore the impacts of the GFC on the lead–lag relationship between the two asset prices under the capital switching framework. This study is also the first to provide empirical evidence regarding the existence of capital switching activities between housing and stocks. In addition, the impact of investor structure on the interrelationship between the two asset prices is examined for the first time under the capital switching framework.
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Badcock, B. A., and M. A. Browett. "Adelaide's Heart Transplant, 1970–88: 3. The Deployment of Capital in the Renovation and Redevelopment Submarkets." Environment and Planning A: Economy and Space 24, no. 8 (August 1992): 1167–90. http://dx.doi.org/10.1068/a241167.
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In this, the last of three papers devoted to urban restructuring and its impact upon the built environment of an Australian city, the spatial focus narrows from the metropolitan region to an inner zone of Adelaide. This is the part of Adelaide that has gained most from the processes of residential reinvestment and gentrification over the last two decades. The interest in the circulation of capital that has been maintained throughout the previous papers is explored more fully by measuring and evaluating investment activity in the renovation and redevelopment submarkets. The evidence presented on the organizational structure, levels of investment, and returns to investment within the two submarkets makes for a better-informed characterization of ‘property capital’. It also serves to make the accompanying role of public finance in the revitalization process much clearer. In this paper, the interpretation of capital formation in the renovation and redevelopment submarkets suggests that all three tiers of government in Australia have been thoroughly implicated in the residential transformation of Inner Adelaide during the last two decades. Changes to the Commonwealth States Housing Agreement in 1973 released public funds for rehabilitating terrace housing in the City and inner suburbs, and the Hawke Government restructured taxation policy and the financial markets affecting investment in the home unit and town house submarket in the 1980s. Meanwhile the Dunstan administration in South Australia axed the freeway and high-rise-housing plans of the previous state government, and pressured City Hall to abandon its grandiose plans for commercializing the City's ‘square mile’. The residential development policies conceived in the mid-1970s as part of the replacement City of Adelaide Plan were emulated by other local government bodies in the nearby suburbs. Somewhat uncharacteristically, the state's public-housing agency gave a lead to project developers in the private sector by demonstrating what could be achieved in the submarket of inner-city-home units and town houses.
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JEFFERSON, THERESE, SIOBHAN AUSTEN, RACHEL ONG, MARIETTA E. A. HAFFNER, and GAVIN A. WOOD. "Housing Equity Withdrawal: Perceptions of Obstacles among Older Australian Home Owners and associated Service Providers." Journal of Social Policy 46, no. 3 (February 20, 2017): 623–42. http://dx.doi.org/10.1017/s0047279417000058.
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AbstractHousing wealth dominates the asset portfolios of the older population in Australia and many other countries. Given the anticipated spike in fiscal costs associated with population ageing, there is growing policy interest in housing equity withdrawal (HEW) to finance living needs in retirement. This paper sheds light on homeowners’ perceptions of the obstacles associated with two forms of HEW: mortgage equity withdrawal (where thein situhome owner increases his/her housing-related debt) and downsizing (where housing equity is released by moving to a lower-valued property). We uncover a series of age-specific barriers impeding older Australians’ use of these forms of HEW through qualitative analysis of semi-structured interviews conducted with home owners and professional service providers in related areas of policy and practice. To that end, we recommend the development of a range of safeguards that will minimise the risk exposure and other obstacles associated with HEW for older home owners.
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Waltl, Sofie R. "A hedonic house price index in continuous time." International Journal of Housing Markets and Analysis 9, no. 4 (October 3, 2016): 648–70. http://dx.doi.org/10.1108/ijhma-10-2015-0066.
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Purpose This paper aims to develop a methodology to accurately and timely measure movements in housing markets by constructing a continuously estimated house price index. Design/methodology/approach The continuous index, which is extracted from an additive model that includes the temporal and the locational effects as smooth functions, can be interpreted as an extension of the classical hedonic time-dummy method. The methodology is applied to housing sales from Sydney, Australia, between 2001 and 2011, and compared to three types of discrete indexes. Findings Discrete indexes turn out to approach the continuously estimated index with decreasing period lengths but eventually become wiggly and unreliable because of fewer observations per period. The continuous index, in contrast, is stable, has favourable robustness properties and is more objective in several ways. Originality/value The resulting index tracks movements in the housing market precisely and in “real-time” and is hence suited for monitoring and assessing housing markets. Because turbulence in housing markets is often a harbinger of financial crises, such monitoring tools support policymakers and investors in tailoring their decisions and reactions. Additionally, the index can be evaluated arbitrarily frequently and therefore is well suited for use in property derivatives.
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Baer, William C. "Toward a history of housing market analysis." International Journal of Housing Markets and Analysis 11, no. 4 (August 6, 2018): 632–47. http://dx.doi.org/10.1108/ijhma-09-2017-0080.
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Purpose This paper aims to relate early history of housing conceptualizations and market analysis in the Anglosphere (Britain, the USA, Canada, Australia and New Zealand). Historians are ignorant of them but clear market analyses had early beginnings in every urban society for developing and accommodating growing populations. Design/methodology/approach Historiography. Findings Aspects of market analysis, especially appraisal and rudimentary approaches to the housing market in the Anglosphere, can be traced back to ancient Rome, housing market conceptualizations to Dr Nicholas Barbon and seventeenth-century London’s first population and housing boom and market analysis techniques in the USA at its founding, when Charles-Maurice de Talleyrand Perigor was the first to refine them and write them up in 1794-1796. The US next made major advances in the 1930s. The overall trend has been from inferred analyses to fundamental (derived) analyses, emphasizing “quantifiable data.” Practical implications This paper elicits researcher’s professional awareness that each nation has an implicit history of its early development practices and techniques. Originality/value The time frame of most housing market analysts is the recent past, the present and the future. But how enduring are their concerns? Do operational values in a housing market reflect historical epochs, or are there some universalities? Furthermore, most urban historians are ignorant of urban market dynamics. It does not occur to them that some of the dynamics that analysts attempt to capture today might always have been inherent in the urban built environment, regardless of era or urbanized part of the globe under consideration.
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Cheung, Ka Shing, and Siu Kei Wong. "Entry and exit affordability of shared equity homeownership: an international comparison." International Journal of Housing Markets and Analysis 13, no. 5 (August 30, 2019): 737–52. http://dx.doi.org/10.1108/ijhma-06-2019-0059.
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Purpose Shared equity homeownership is a form of subsidised, resale-restricted housing through which lower-income households can sustain their affordability. This paper aims to distinguish two types of affordability within shared equity homeownership: “entry affordability” indicates how affordable subsidised housing is when a household first becomes a subsidised owner; while “exit affordability” means how affordable private housing is after a household has enjoyed subsidised homeownership for a period of time. Design/methodology/approach Using price-to-income ratios, this study compares the entry and exit affordability of shared equity homeownership programs in Australia, Mainland China, Hong Kong, Norway, the UK and the USA. Based on these international comparisons, this study generalises two distinct types of shared equity homeownership models, namely, the models of “share-to-buy” and “share forever”. A new model, “follow-as-you-go”, is further suggested to increase the elasticity of potential affordable housing supply by providing incentives for existing subsidised homeowners to move. Findings A key finding of this study is that while shared equity homeownership programs can improve entry affordability, homeowners’ exit affordability is weak when subsidised homeowners have to share their capital gain with the government. While many housing policy discussions around the world that support shared equity homeownership focus only on the improvement of entry affordability, these discussions usually ignore the importance of exit affordability. This study attempts to fill the void in the understanding of these two types of affordability. Originality/value Shared equity homeownership policy is not only about offering low-income households but also an affordable housing option. It is also about facilitating well-off subsidised homeowners to move up the housing ladder so that the affordable housing option can be freed up for others in need. In a word, it is not only entry affordability but also exit affordability that matters.
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Bourassa, Steven C., and Ming Yin. "Housing Tenure Choice in Australia and the United States: Impacts of Alternative Subsidy Policies." Real Estate Economics 34, no. 2 (June 2006): 303–28. http://dx.doi.org/10.1111/j.1540-6229.2006.00168.x.
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West, Tracey, and Andrew Worthington. "The impact of major life events on household asset portfolio rebalancing." Studies in Economics and Finance 36, no. 3 (July 26, 2019): 334–47. http://dx.doi.org/10.1108/sef-11-2017-0318.
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Purpose This paper aims to model the asset portfolio rebalancing decisions of Australian households experiencing a severe life event shock. Design/methodology/approach The paper uses household longitudinal data from the Household, Income, and Labour Dynamics in Australia (HILDA) survey since 2001. The major life events are serious illness or injury, death of a spouse, job dismissal or redundancy and separation from a spouse. The asset classes are bank accounts, cash investments, equities, superannuation (private pensions), life insurance, trust funds, owner-occupied housing, investor housing, business assets, vehicles and collectibles. The authors use both static and dynamic Tobit models to assess the impact and duration of impact of the shocks. Findings Serious illness and injury, loss of employment, separation and spousal death cause households to rebalance portfolios in ways that can have detrimental effects on long-term wealth accumulation through poor market timing and the incurring of transaction costs. Research limitations/implications The survey results are only available since 2001, and the wealth module from which the asset data are drawn is self-reported and not available every year. Practical implications Relevant to policymakers working on the ongoing retirement of the “baby boomer” generation and for financial planners guiding household investment decisions. Originality/value Most research on shocks to household wealth concern a narrower range of assets and only limited shocks. Also, this is one of the few studies to use a random effects model to allow for unspecified heterogeneity among households.
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Plaut1, Pnina O., and Steven E. Plaut. "International Real Estate Review." International Real Estate Review 16, no. 1 (April 30, 2013): 119–33. http://dx.doi.org/10.53383/100166.
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The supply of rental housing is by and large provided by landlord households. Little is understood about the factors, beyond financial portfolio considerations, that affect the inclination of people or households to become landlords. Studies of the American rental market have pointed to differences across income, wealth, ethnicity, and education in the willingness to rent out residential property to others. Here, we examine the question for Israel. We find that income and wealth are positively associated with the inclination to be a landlord. Education has an effect in Israel in contrast to the US (and Australia). Human capital in Israel appears to complement with rental property capital, unlike the case for the US and Australia, where they appear to be substitutes. In most cases, rental property in Israel and housing capital in the landlord's primary residence appear to be complementary. Ethnic minorities and new immigrants are under-represented among landlords. For households who own rental property, the income from such rentals is empirically analyzed.
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Ma, Le, Henry Liu, and Michael Sing. "Responsiveness of residential construction-production progress to house price dynamics." International Journal of Housing Markets and Analysis 14, no. 4 (January 25, 2021): 796–814. http://dx.doi.org/10.1108/ijhma-05-2020-0052.
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Purpose This study aims to address the gap by empirically exploring how residential construction-production progress, which includes project commencement, under-construction and project completion, responds dynamically to fluctuations in house prices. Design/methodology/approach A vector autoregressive model and an impulse response function are applied to simulate and analyse the circle of the stage-responsiveness of residential construction to residential property price dynamics in the state of Victoria, Australia. The quarterly numbers of dwelling units commenced, under-construction and completed are used as the proxy for the residential construction activities at three stages over the construction progress. Findings The analysis indicates that the dynamics are essentially transmitted throughout the construction process and can substantially impact the pace of production progress. The findings from this study provide an empirical base that should be useful in developing price-elasticity and production theories applicable to the context of residential property construction. Research limitations/implications The findings described above have been generated basically by examining the case of Victoria, Australia at a macro level. The generalisation of the research output needs to be verified further by future researchers using data collected from other regions/countries. Nevertheless, the reliability of the conclusions with particular practical implications can be substantially improved by future researchers by analysing more markets and production proxies at the activity level. Practical implications Based on new empirical findings, this research argues that building activity (i.e. under construction) played as a gateway between the construction and housing sectors, via which the inter-responsiveness of the housing supply in terms of construction activities and housing prices are transmitted. Originality/value This research firstly attempts to explore the inter-responsiveness between the real estate and construction sectors. A simulated circle of the stage-responsiveness of residential construction to residential property price dynamics is proposed, which can serve as a significant foundation for developing the theory of construction production.
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Warren, Clive M. J., Peter Elliott, and Jason Staines. "The impacts of historic districts on residential property land values in Australia." International Journal of Housing Markets and Analysis 10, no. 1 (February 6, 2017): 66–80. http://dx.doi.org/10.1108/ijhma-02-2016-0015.
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Purpose Focusing on the externality effects of historic districts, this paper aims to assess and compare the impact of historic district designation on the value of residential vacant land property. Design/methodology/approach Hedonic regression is used to analyze data from 4,233 residential vacant site transactions to measure the influence of historic district designation on the price of residential vacant site properties. Findings Results support established theory and research on other residential property types, showing a significant and positive relationship between designation in a historic district and property prices. Residential vacant sites located in a designated historic district sold at a 10-11 per cent premium compared to similar vacant sites not located in a historic district. Originality/value This is the first empirical study of the influence of historic districts on residential vacant land property. The paper extends limited previous literature on the externality effects of historic districts through detailed analysis of a large Australian housing market (Brisbane).
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Ge, Xin Janet. "Effects of ethnic changes on house prices: Sydney cases." International Journal of Housing Markets and Analysis 13, no. 1 (February 14, 2018): 96–119. http://dx.doi.org/10.1108/ijhma-12-2016-0083.
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Purpose This paper aims to investigate the factors that contribute to the changes of house prices including ethnic factors. Australia is a multicultural country with diversified ethnicities. The median price of established houses (unstratified) in Sydney has reached a new record high of $910,000 in December 2015, increasing around 58.2 per cent from March 2011 [Australian Bureau of Statistics (ABS), 2015a]. However, the prices of some suburbs have increased more than prices of others. Design/methodology/approach Six suburbs that represent ethnic majority originally including White, India and China will be selected as pilot studies. Hedonic regression analysis will be applied for the analysis based on 2001, 2006 and 2011 census data. Findings It is found that the main drivers of house prices are the dwelling physical characteristics and accessibility to convenient transportation. The level of household income also plays an important role. However, the impact of changes of ethnic on changes of prices is not significant. Research limitations/implications The study adds to the growing literature on the ethnicity changes on dwelling prices and is important for understanding whether some of the clusters of ethnic concentration or segregation effects property markets. This study is significant in its understanding of the main characteristics of ethnic changes of suburbs in Sydney. Practical implications An implication is that policy makers can attract different ethnic groups and encourage multicultural communities when they formulate housing and planning policies. Originality/value The relationship between ethnicity and house price appreciation is not extensively studied in Australia. This research contributes to the literature on the effects of ethnic changes on house prices and implications of policy formulation to encourage multicultural communities.
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Khan, Safdar Ullah, Satyanarayana Ramella, Habib Ur Rahman, and Zulfiqar Hyder. "Household Portfolio Allocations: Evidence on Risk Preferences from the Household, Income, and Labour Dynamics in Australia (HILDA) Survey Using Tobit Models." Journal of Risk and Financial Management 15, no. 4 (April 1, 2022): 161. http://dx.doi.org/10.3390/jrfm15040161.
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This study investigates intrahousehold risk preferences in household portfolio decision-making. Most household finance data are collected at the household level, and it is challenging to come up with an explanation of risk-taking decisions and have a direction on the within-household bargaining mechanisms. We provide these challenging pieces of evidence by applying a Tobit model on panel data taken from waves 2 to 6 of HILDA surveys. Overall, the results indicate that the risk-taking attitude of partners matters in household portfolio allocations. Risk-averse males and their female counterparts invest less in risky assets. Compared with the no-conflict (identical risk preferences) group, male partners with risk-loving behaviour tend to invest more in risky assets. Further, individual risk preferences are sensitive to fluctuations in equity and housing markets in Australia. Taken together, one of the crucial implications of our findings for future research is that household-bargaining models should, perhaps, give more bargaining power to risk-loving males, offering an additional explanation for the determinants of risk-taking behaviour of households. Understanding the risk-taking attitudes of households is important for future work to understand the fraction of households that end up with a negative net worth in recessions or crisis conditions, such as financial crises, pandemics, and wars.
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Green, Ray, Piyush Tiwari, Jyoti Rao, and Ricki Hersburgh. "Strategies used by developers in seeking EnviroDevelopment certification for “sustainable” master-planned residential developments in Victoria, Australia." International Journal of Housing Markets and Analysis 11, no. 3 (June 4, 2018): 557–72. http://dx.doi.org/10.1108/ijhma-08-2017-0074.
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Purpose The purpose of this study was to explore strategies used by developers of master-planned housing development projects in Victoria, Australia, for obtaining certification under the Urban Development Institute of Australia’s (UDIA) EnviroDevelopment (ED) sustainable development certification programme. To be awarded ED certification, a development must demonstrate that it meets the assessment criteria within at least four of the six ED “leaves”. These leaves relate to its performance in terms of energy, water, materials, waste, community and ecosystems. This study explored how developers make choices regarding sustainability features they build into the planning, design and management of their developments to gain the leaves needed for ED certification. Having this certification is valued by developers as it can be used to demonstrate the sustainability credentials of their developments to potential house buyers, the validity of which is backed up by a trusted independent non-profit organisation (UDIA). Design/methodology/approach The study sought to quantify the preferential weightings of nine developers in selecting ED “leaves” and the strategies they use for meeting the assessment criteria needed to obtain selected ED leaves. This was done using a novel data collection and analysis method, the analytical hierarchical process (AHP), which relies on respondents, in this case, developers of ED certified development projects, making pairwise comparisons between choices of different development factors associated with the different ED “leaves”. Findings The most highly preferred ED leaves were found to be community, energy and ecosystems. “Community facilities” and “on-site transportation” were the two most highly weighted factors associated with the community leaf. Energy, the next most preferred leaf, was most highly weighted on “saving on operational costs” for the consumers (home buyers). Here consumer demand factors seem to be driving preferences. The ecology leaf was the next most preferred, with “existing site conditions” being the most highly weighted factor for this leaf. For sites that already contain significant areas of indigenous habitat, such as wetlands, selecting this leaf would seem to be an attractive, and potentially lower cost, option. Existing ecologically significant natural areas that are preserved, and where necessary enhanced, can be used for marketing purposes and serve in fulfilling planning open-space contribution requirements. The developers were more indifferent to the water, waste and materials leaves; however, the water leaf was rated slightly higher than the other two and was most strongly associated with “recycled water” and opportunities for “water conservation”, another example of demand factors driving preferences. Originality/value The results of this study reveal the preferences of a small sample of developers in terms of how they weigh different factors in making decisions about acquiring sustainability certification for residential master-planned development projects through the UDIA’S ED programme. The findings provide insight into the types of decisions developers make in the process of seeking ED certification, which includes considerations of site characteristics, costs, predicted effectiveness of different interventions and usefulness for marketing and other factors in terms of which ED leaves to pursue and how to acquire them to gain ED certification. The study also tested the AHP method as a methodological tool for addressing this question. Modifications in how data are collected using the on-line survey can be made to allow the method to be more easily used with larger respondent sample sizes. Collection of more focussed data elicited from respondents with specific areas of expertise, for example, specialists in energy, water, landscape architecture and planning, ecology and other relevant areas of knowledge, should also been considered.
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Rossini, Peter, and Valerie Kupke. "Understanding the short- and long-run relationship between vacant allotment and established house prices." International Journal of Managerial Finance 10, no. 2 (April 1, 2014): 200–217. http://dx.doi.org/10.1108/ijmf-04-2012-0052.
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Purpose – The purpose of this paper is to address a key issue fundamental to the operation of land and housing markets, that is, the relationship between land and house prices. The study identifies possible causation between established house and vacant allotment prices using the metropolitan area of Adelaide, Australia as a case study. Design/methodology/approach – A key outcome of the study is the construction of a Site Adjusted Land Price Index against which a Quality Adjusted House Price Index is compared. Findings – The results show that there is a lagged effect of land prices on house prices and that this is significant at an interval of eight lag periods. The results also imply that the lead lag relationship between established house and vacant allotment prices is not unidirectional. This suggests that, while a change in house prices leads to a change in land prices in the short-run, the long-run position is for increasing land prices to lead to a delayed increase in house prices. Research limitations/implications – Rising house prices do not simply and solely reflect a shortage of land. There are suggested effects both immediate from house to land and delayed from land to house, particularly in a rising market. Originality/value – The lead lag relationships of both indexes are tested using Granger causality estimates to assess whether theoretical Ricardian concepts still hold in a modern urban land market.
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Taylor, Judy, and Ray Jureidini. "The Implicit Male Norm in Australian Housing Finance." Journal of Economic Issues 28, no. 2 (June 1994): 543–54. http://dx.doi.org/10.1080/00213624.1994.11505567.
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Karamujic, M. H. "Some empirical evidence on variations in Australian housing finance commitments." Property Management 29, no. 4 (August 16, 2011): 330–44. http://dx.doi.org/10.1108/02637471111154782.
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Martin, John. "Supporting Dynamic Economic Adjustment." National Institute Economic Review 250 (November 2019): R15—R21. http://dx.doi.org/10.1177/002795011925000112.
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Executive SummaryEconomic policymaking in the UK has historically focussed more on the demand side than on the supply side of the economy. Yet it is on the supply side – the way in which an economy adapts to change while growing productive capacity on a sustainable basis – that medium- to long-term economic performance largely depends. There is an urgent need now to rebalance policy by focussing, in particular, on measures to enhance labour-force productivity, including radically enhanced support for training and skills development.This does not involve wholesale structural reform of the economic framework. The UK benefits from having one of the most flexible economies in the OECD, with competitive product markets, relatively low labour costs and historically high employment levels, accompanied by a so-far-successful adoption of an escalating minimum wage. We suggest that in the post-Brexit era politicians would do well to avoid changes in the regulatory regime that would create undue misalignments with EU standards. Nevertheless, the concomitants of the UK's form of flexibility are a dismal performance on productivity and stagnating living standards. Productivity is now actually falling quarter on quarter ten years after the last economic downturn – a position unprecedented in the past 250 years. This problem must be addressed if the UK is to progress towards fulfilling its economic potential.Central to this are both so-called Active Labour Market Policies (ALMPs) to provide people who have become unemployed with new skills that help them remain in the workforce, and investments in effective upskilling of mid-career and older workers. ALMPs can help raise average per capita income over time, yet UK spending on this area is well under half the OECD average and a fraction of the sums spent in the more successful Nordic economies, Germany, Austria, Switzerland, and Australia. The UK's many attempts to develop new training and apprenticeship schemes in recent decades have been dogged by poor quality and a lack of support from employers and labour unions. This needs to change: we propose a concerted effort to raise UK spending on ALMPs to the OECD average, especially for 16–24 year-olds. Improving labour-force mobility – for example by radically improving availability of affordable housing – is also critical. Structural reforms of this kind will require sustained political effort and support.
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Lin Lee, Chyi, and Xiao-Hua Jin. "Exploring Australian Housing Supply Volatility." Pacific Rim Property Research Journal 17, no. 4 (January 2011): 634–51. http://dx.doi.org/10.1080/14445921.2011.11104346.
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Gholipour, Hassan F., Hooi Hooi Lean, Reza Tajaddini, and Anh Khoi Pham. "Foreign investment in Australian residential properties." International Journal of Housing Markets and Analysis 12, no. 2 (April 1, 2019): 166–80. http://dx.doi.org/10.1108/ijhma-05-2018-0030.
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Purpose The purpose of this study is to examine the impact that foreign investment in existing houses and new housing development has on residential house prices and the growth of the housing construction sector. Design/methodology/approach The analysis is based on a panel cointegration method, estimated using annual data for all Australian states and territories spanning the period of 1990-2013. Findings The results indicate that increases in foreign investment in existing houses do not significantly lead to increases in house prices. On the other hand, a 10 per cent increase in foreign investment for housing development decreases house prices by 1.95 per cent. We also find that foreign real estate investments have a positive impact on housing construction activities in the long run. Originality/value Existing studies used aggregate foreign real estate investment in their analyses. As foreign investment in existing houses and foreign investment for housing development have different impacts on the demand and supply sides of housing market, it is crucial that the analysis of the effects of foreign investment in residential properties on real estate market is conducted for each type differently.
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Kolios, Bill. "Australian household debt and the macroeconomic environment." Journal of Economic Studies 48, no. 1 (April 29, 2020): 21–34. http://dx.doi.org/10.1108/jes-10-2019-0460.
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PurposeThis paper aims to investigate the effect of labour market conditions and monetary policy on households' attitude towards debt in the Australian context.Design/methodology/approachIn doing so, household debt is categorised into housing, and consumer debt and the relationship is empirically tested through the use of a vector error correction model.FindingsConsumer debt is found to be highly dependent on consumption with employment income and unemployment having a statistically insignificant effect, whilst monetary policy showing an inverse relation to consumer debt. The findings suggest that household consumption appears to be the primary determinant for consumer debt, which then behaves as a wage substitute. In terms of housing debt, income and monetary policy positively affect households' decisions with consumption and unemployment having a negative impact on the level of housing debt. The empirical results suggest that housing debt behaves as a proxy for household investment.Originality/valueThis paper empirically investigates the impact of selected macroeconomic variables on housing and personal debt separately. The findings suggest that monetary policy and labour market conditions have different impacts on the two separate debt types.
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Graffam, Joseph, and Alison J. Shinkfield. "The Life Conditions of Australian Ex-Prisoners." International Journal of Offender Therapy and Comparative Criminology 56, no. 6 (July 19, 2011): 897–916. http://dx.doi.org/10.1177/0306624x11415510.
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Successful reintegration of ex-prisoners into the community is multifaceted. The life conditions of 36 adult Australian ex-prisoners (20 male and 16 female) were examined via a questionnaire administered at 1 to 4 weeks post release, and a subset of 19 of the original respondents were interviewed again at 3 to 4 months post release. Interviews focused on intrapersonal conditions (physical and psychological health and substance use), subsistence conditions (housing, employment, and finance), and support conditions (social support, support services/program participation, and criminal justice support). The majority of ex-prisoners self-reported chronic physical and mental health problems as well as a history of substance use and/or current substance use. Although the housing conditions of ex-prisoners were largely favourable and constant, the employment and financial conditions of this group were generally unfavourable. Level of social support was variable. Theoretical implications and practical applications of the present investigation for reintegration theory are discussed.
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Pulla, Venkat Rao, and Kalpana Goel. "Globalisation: Rethinking Development in the Context of the Pandemic." Space and Culture, India 10, no. 3 (November 28, 2022): 134–42. http://dx.doi.org/10.20896/saci.v10i3.1268.
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The stark reality of human existence with a predictable 90 per cent of most reported cases emerging from these showcases of development, urbanisation, and industrialisation — our cities and towns tell us something that we cannot ignore. The cities took the brunt and revelled as the epicentres of the pandemic and a public health disaster, with the lockdowns remaining prolonged, severe, and even punitive in many cities of the world. We discuss here, the impacts of unprecedented crisis as we continue to rely on a globalised economy, and gaze at the helplessness with which the state handles our lives and appears to compromise our destinies through in a market full of uneven players. COVID-19 first hit the global power centres, the developed nations, and the business capitals in developing countries. Excited holidaymakers cruising passenger returnees from Ruby Princess began infecting others and those others infected capital cities like Sydney and Melbourne, Australia. It is intriguing and highly disturbing that how responsibility for a disease that travelled across borders with passports and through commercial airlines came to be laid at the poor of Mumbai’s slums or Brazil’s favelas. It is really the well-off and the powerful who seem to rule the roost in cities. The density of populations in urban habitats and the intensity of local and global interconnectivity have made these urban habitats clearly more vulnerable to the spread of the virus. Be it the social housing that is vertical for low-income earners in Melbourne or the urban sprawls of Dharavi, Mumbai; evidence suggests that density per se correlated to higher virus transmission.
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Costello, Gregory, Patricia Fraser, and Garry MacDonald. "Monetary policy influences in Australian housing markets." International Journal of Housing Markets and Analysis 8, no. 2 (June 1, 2015): 265–86. http://dx.doi.org/10.1108/ijhma-08-2014-0032.
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Purpose – This paper aims to analyze the impact of common monetary policy shocks on house prices at national and capital city levels of aggregation, using Australian data and the Lastrapes (2005) two-part structural vector autoregressive (SVAR) empirical method. Design/methodology/approach – The Lastrapes (2005) two-part SVAR empirical method is applied to Australian housing market and macroeconomic data to assess the impact of common monetary policy shocks on house prices. Findings – Results show that while the impact of shocks to interest rates on aggregate house prices is almost neutral, the responses of state capital city house prices to the same shock can exhibit significant asymmetries. Originality/value – This paper contributes to the monetary policy–asset price debate by examining the influence of Australian monetary policy on capital city housing markets over the period 1982-2012. To the authors’ knowledge, this is the first empirical study that has adapted this Lastrapes (2005) methodology to the analysis of housing markets.
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Worthington, Andrew, and Helen Higgs. "Macro drivers of Australian housing affordability, 1985-2010." Studies in Economics and Finance 30, no. 4 (September 30, 2013): 347–69. http://dx.doi.org/10.1108/sef-07-2012-0078.
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Rossini, Peter, and Valerie Kupke. "The socio spatial substructure of the Australian city: how well does it explain house price?" International Journal of Housing Markets and Analysis 8, no. 1 (March 2, 2015): 53–72. http://dx.doi.org/10.1108/ijhma-02-2014-0004.
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Purpose – This paper aims to show how social and economic differentiation that has become a feature of Australian cities and the urban housing literature emphasises the value in understanding such differentiation as an explanation of housing demand. Design/methodology/approach – Using a consistent set of variables from the 2011 ABS Census of Housing and Population, this paper uses factor analysis to identify the socio spatial substructure of housing markets at suburb level for five mainland Australian cities. Findings – The relative importance of this socio substructure in explaining median house price is determined for each city. The paper also identifies where the socio spatial structure is mismatched against expected house price and an explanation is offered for these anomalies. Originality/value – The study is innovative in that it reveals, at suburb level, districts in each city where there is a marked divergence between the prices being paid for property and the socioeconomic makeup of the local community.
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Poor, Javad Asad, David Thorpe, and Yong Wah Goh. "A collaborative image of energy efficient housing via a photo-based approach." International Journal of Housing Markets and Analysis 13, no. 3 (November 4, 2019): 513–32. http://dx.doi.org/10.1108/ijhma-07-2019-0070.
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Purpose Regarding the contribution of Australian small-size housing in the enhancement of total energy consumption of the country and the roles of the occupants’ preferences in successful implementation of action plans, the purpose of this study is to identify the Australian occupants’ collaborative image of housing energy efficiency. The two main objectives are, therefore, to address the main energy-related housing physical factors that have the potential in representing the housing image of Australian occupants and to explain the causal factors that make the physical factors critical to their energy efficiency perception. Design/methodology/approach This study has been developed through a qualitative approach. Given that the images encompass a wide range of information expressing human perceptions, an online photo-based qualitative survey was developed based on previous research works. The survey includes respondents’ demographic profiles and the evaluation of images, asking for their perception of overall housing energy efficiency, the impacts of building envelope physical attributes on the energy efficiency of the houses and the reasons behind the selection of different attributes. Findings This study has developed a set of attribute-based factors, explaining occupants’ collective perception of energy efficient small-size housing of Brisbane in the area of exterior aspects of the buildings. Specifically, the collaborative image of small-size housing of Brisbane is about the thermal performance of the buildings provided through passive climatic principles by using more efficient envelope features, e.g. material, colour, transparency, texture, openings, balconies and shadowing devices, while ignoring the impacts of architectural composition principles along neighbourhood quality. The key attributes in assessing the small-housing energy efficiency are ventilation, thermal performance and shadowing. The housing images in old traditional architectural style with rural face, built by stone, brick and concrete in high dense vegetation were evaluated to be more energy efficient than those with modern architecture, built by large glass panel and metal cladding with light or no vegetation. Research limitations/implications The main limitation of the paper is related to the nature of an image-based survey, which leads to ignoring some aspects of real spaces such as odour, temperature and noise. Practical implications This research has the potential for developing a practical methodology for assessing housing-resident fit using computer-based methodology and neural networks. Social implications This research has the potential for developing a methodology, assisting the end users in meeting their desires and motivations by helping them in assessing how a housing unit fits with their expectations and preferences. Originality/value This research provides a reliable conceptual platform for dealing with the complexity of occupants’ housing perceptions. This is achieved by establishing a collective conceptual picture of these environmental perceptions, namely, housing image, which is a platform for transferring abstract data related to human perception into measurable and quantitative scales.
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FAHRER, JEROME, and THOMAS ROHLING. "SOME TESTS OF COMPETITION IN THE AUSTRALIAN HOUSING LOAN MARKET*." Australian Economic Papers 33, no. 62 (June 1994): 107–19. http://dx.doi.org/10.1111/j.1467-8454.1994.tb00010.x.
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Hinch, Martin, Michael McCord, and Stanley McGreal. "LIBOR and interest rate spread: sensitivities of the Australian housing market." Pacific Rim Property Research Journal 25, no. 1 (January 2, 2019): 73–99. http://dx.doi.org/10.1080/14445921.2019.1610594.
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Charters, Ben, and Troy Heffernan. "A conceptual model identifying apartment owners' attitude formation towards solar photovoltaic (PV) adoption." Property Management 39, no. 3 (March 15, 2021): 325–42. http://dx.doi.org/10.1108/pm-08-2020-0049.
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PurposeThis paper addresses the current lack of solar photovoltaic (PV) adoption by Australian apartment dwellers by proposing a conceptual model that identifies and integrates the factors influencing owners' attitudes towards PV adoption.Design/methodology/approachThe conceptual model, which this paper terms the apartment-based solar adoption (ASA) model, is developed by applying motivation–opportunity–ability (MOA) theory to relevant findings in property development, green energy and strata governance literature.FindingsThe ASA model demonstrates the process by which an apartment-owning consumer may progress from considering solar PV adoption to recommending the action to their strata property's Owners' Committee (OC). It incorporates three motivational drivers (pragmatic considerations, perceived values and perceived social norms), three conditional mediators (location accessibility, resource availability and decision-making conditions) and three requirements from the consumer (actual and perceived knowledge, the ability to participate in decision-making and social connections and status).Research limitations/implicationsThis article contributes originality to research on two counts. Firstly, it provides a conceptual framework of specific relevance to issues concerning solar PV adoption, and secondly, it offers a systematic means for research into strata governance decision-making. Further research is required to develop the means with which to utilise the model prescriptively and measure longitudinal effects, such as ongoing trends in apartment owners' motivations. Further research is also recommended into how the ASA model may be utilised to identify generalisable consumer typologies among apartment owners.Practical implicationsThe ASA model may assist building maintenance providers in developing and marketing solar PV services tailored to apartment residents' requirements and enhance strata managers' ability to inform and guide apartment owners. In turn, property developers would be able to review apartment-based solar projects, measure their increased value and decreased energy costs and incorporate this information when planning future developments.Social implicationsThe ASA model may provide a template for apartment owners and owners' corporations considering solar PV for their property. Public policymakers could also refer to the model to incentivise apartment-based solar PV adoption, whether through designing local information campaigns, developing financial incentives or mitigating identified regulatory barriers. By facilitating solar PV adoption in Australian apartment housing, the model may ensure sustainable post-carbon energy consumption for Australia's housing stock and act as an example for high-density housing development internationally.Originality/valueThe ASA model addresses the many drivers and barriers known to affect solar PV adoption by apartment owners, presenting a framework on which to arrange these factors and outline their causal relationships. This framework may inform strata properties' future solar PV adoption initiatives by incorporating their specific physical characteristics, stakeholder dynamics and institutional structure. It also consolidates and provides generalisability to the concepts established in current literature.
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Dollery, Brian E., and Andrew C. Worthington. "The Impact of Fiscal Illusion on Housing Values: An Australian Test of the Debt Illusion Hypothesis." Public Budgeting Finance 15, no. 3 (September 1995): 63–73. http://dx.doi.org/10.1111/1540-5850.01047.
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Ma, Le, and Chunlu Liu. "A panel error correction approach to explore spatial correlation patterns of the dominant housing market in Australian capital cities." International Journal of Housing Markets and Analysis 6, no. 4 (September 30, 2013): 405–21. http://dx.doi.org/10.1108/ijhma-03-2013-0021.
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Reed, Richard. "The relationship between house prices and demographic variables." International Journal of Housing Markets and Analysis 9, no. 4 (October 3, 2016): 520–37. http://dx.doi.org/10.1108/ijhma-02-2016-0013.
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Purpose The process for examining the value of house prices in an urban city has given limited attention, if any, to demographic variables associated with urban geography. Although the disciplines of property/real estate and demography have moved closer, little progress has been made when modelling house prices using population-related data in the field of urban geography to explain the level of house prices. Design/methodology/approach This paper proposes an innovative model to examine the influence of population variables on the level of house prices. It used a two-stage approach as follows: principal components analysis (PCA) identified social dimensions from a range of demographic variables, which were then retained for further analysis. This information was sourced from two Australian Bureau of Statistics censuses undertaken involving all Melbourne residents during 1996, 2001, 2006 and 2011; multiple regression analysis examined the relationship between the retained factor scores from the PCA (as independent variables) and established residential house prices (as the dependent variable). Findings The findings confirm the demographic profile of each household, which is directly related to their decisions about housing location and house prices. Based on a case study of Melbourne, Victoria, it was demonstrated that households with specific demographic characteristics are closely related to a certain level of house prices at the suburban level. Originality/value This is an innovative study which has not been previously undertaken for an extended period of time to facilitate an analysis of change over time.