Housing Supply Elasticity in Sydney Local Government Areas PDF Download
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Author: Xiangling Liu
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
We report supply elasticity estimates of residential property (houses and apartments) for Local Government Areas (LGAs) in metropolitan Sydney. Using annual data for 1991-2012, the average supply elasticity estimate across all LGAs is 0.2 for houses and 0.8 for apartments. The supply of houses is inelastic in all 43 LGAs; in contrast apartment supply is elastic - greater than unity - in about one-third of LGAs. We develop a model to explain the cross-section variation in supply elasticity across LGAs. For houses, supply elasticity is negatively related to an LGA's population density, the time taken by a Local Council to process a development application and to various measures of the amount of land in an LGA that is unavailable for new housing development. Variation in supply elasticity for apartments across LGAs is unrelated to any of the available regressors.
Author: Xiangling Liu
Publisher:
ISBN:
Category :
Languages : en
Pages : 31
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Book Description
We report supply elasticity estimates of residential property (houses and apartments) for Local Government Areas (LGAs) in metropolitan Sydney. Using annual data for 1991-2012, the average supply elasticity estimate across all LGAs is 0.2 for houses and 0.8 for apartments. The supply of houses is inelastic in all 43 LGAs; in contrast apartment supply is elastic - greater than unity - in about one-third of LGAs. We develop a model to explain the cross-section variation in supply elasticity across LGAs. For houses, supply elasticity is negatively related to an LGA's population density, the time taken by a Local Council to process a development application and to various measures of the amount of land in an LGA that is unavailable for new housing development. Variation in supply elasticity for apartments across LGAs is unrelated to any of the available regressors.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484341872
Category : Business & Economics
Languages : en
Pages : 90
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Book Description
This Selected Issues paper on Australia discusses prospects and ramifications of China’s economic transition. Australia and China have strong linkages that are growing over time as China carries on with its economic transition. Trade in commodities and services are constantly growing. Australia has established itself as a dominant player in some key Chinese import needs, particularly for steel. The stylized facts also demonstrate that the rest of Asia is increasingly important for Australia. The charts for tourism, education, and the destination of exports illustrate that both advanced and emerging Asia already have a growing impact. The paper shows that the rest of Asia’s trade linkages with Australia are similar in size to the linkages between Australia and China. China may be Australia’s largest trading partner, but the rest of Asia is also a rapidly growing region, with potential markets for Australian expansion.
Author: Colin Jones
Publisher: John Wiley & Sons
ISBN: 0470672331
Category : Law
Languages : en
Pages : 337
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Book Description
This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.
Author: Nicole Gurran
Publisher: Routledge
ISBN: 1317385152
Category : Architecture
Languages : en
Pages : 262
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Book Description
In recent years many nations have asked why not enough housing is being built or, when it is built, why it isn't of the highest quality or in the best, most sustainable, locations. Politics, Planning and Housing Supply in Australia, England and Hong Kong examines the politics and planning of new homes in three very different settings, but with shared political traditions: in Australia, in England and in Hong Kong. It investigates the power-relationships and politics that underpin the allocation of land for large-scale residential schemes and the processes and politics that lead to particular development outcomes. Using a comparative framework, it asks: how different systems of urban governance and planning mediate the supply of land for housing; whether and how these system differences influence the location, quantity and price of residential land and the implications for housing outcomes; what can be learned from these different systems for allocating land, building consensus between different stakeholders, and delivering a steady supply of high quality and well located homes accessible to, and appropriate for, diverse housing needs. This book frames each case study in a comprehensive examination of national and territorial frameworks before dissecting key local cases. These local cases – urban renewal and greenfield growth centres in Australia, new towns and strategic sites in England, and major development schemes in Hong Kong – explore how broader urban planning and housing policy goals play out at the local level. While the book highlights a number of potential strategies for improving planning and housing delivery processes, the real challenge is to give voice to a broader array of interests, reconstituting the political process surrounding planning and housing development to prioritise homes in well-planned places for the many, rather than simply facilitating investment opportunities for the few.
Author: Emerald Group Publishing Limited
Publisher: Emerald Group Publishing
ISBN: 178560953X
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
Built Environment and Property Management - A Focus on Australia is a unique collection of articles that represent the highest level of scholarship in the field, identify emerging themes. These include: - Corporate social responsibility - Green buildings - Management efficiency The articles provide insight access to the thought-leaders of today.
Author: Australia. National Housing Strategy
Publisher:
ISBN:
Category : Housing policy
Languages : en
Pages : 136
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Book Description
This paper examines current concerns on supply side issues such as : the potential mismatch between housing demand and housing supply; the extent to which there is potential for improvement in housing and land industry practices; the extent to which reform to the planning and regulatory environment can help to ensure efficient processes of housing and land supply; and the need for efficient and equitable financing of urban infrastructure.
Author: Chris Purdon
Publisher:
ISBN:
Category : Housing policy
Languages : en
Pages : 186
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Book Description
Documents the existing role of local governments in housing canvasses options for enhancing the role and discusses the possible contribution which could be made by local governments to meeting the objectives of the National Housing Strategy.
Author: Eden Hatzvi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
We examine whether asset pricing theory can explain residential property prices. Using quarterly data for Local Government Areas in Sydney from 1991 to 2006, we find little evidence that variations in price: rent ratios anticipate future real rent growth. Instead changes in price: rent ratios apparently reflect changing expectations about future discount factors. Some important geographical differences in the behaviour of property prices across metropolitan Sydney are identified. A significant proportion of the variation in property prices in outer western regions of Sydney is not explained by either rents or discount factors; pointing to a possible role for a speculative bubble.
Author: Andrew Beer
Publisher:
ISBN: 9780995382954
Category :
Languages : en
Pages :
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Book Description
This report presents the results of an online survey of local governments across Australia on their attitudes, programs, policies and actions with respect to housing. This survey is part of an Australian Research Council Linkage Project investigating the role of local government in housing Australians in the 21st Century. This report focuses on the data from respondents in the Sydney metropolitan areas. Overall, 213 local governments in Australia completed the survey - representing about 40 per cent of all local governments. Project investigators found that the majority of respondents in Sydney agreed that local government has a role in responding to housing issues and their Council is making it a high priority.
Author:
Publisher:
ISBN:
Category : Australia
Languages : en
Pages : 604
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Book Description
