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The housing market is both large and complex. This paper develops a simple model that captures the essential features of the supply and demand for housing, and which is used to evaluate the impact of a range of policy interventions. Increases in the stock of housing would reduce rents and house...
Persistent link: https://www.econbiz.de/10012115614
Over the last two decades, New Zealand experienced a threefold increase in housing prices. The largest surge in prices in recent years occurred between 1998 and 2007, a period of housing price growth in many developed economies. Since 2007, housing price growth remained flat until 2011, and then...
Persistent link: https://www.econbiz.de/10012115678
New Zealand’s housing supply has not kept pace with rising demand, including from net immigration. Affordability has worsened, particularly for low-income renters. Government action is underway to allow new housing through initiatives such as the Urban Growth Agenda, KiwiBuild and the Housing...
Persistent link: https://www.econbiz.de/10012111105
This paper examines the law and policy nexus in the context of overseas investment law, primarily in New Zealand. It examines the difficulties of balancing the need for overseas investment-especially in land and business assets-against the need to protect a country's interests and in doing so...
Persistent link: https://www.econbiz.de/10013248361
We examine whether a single housing market exists across 16 cities covering two countries, Australia and New Zealand … shocks are first reflected in the price dynamics of a leading group of cities all of which are within Australia (including …
Persistent link: https://www.econbiz.de/10011883121
We study the effects of a large-scale upzoning on house prices and redevelopment premiums in Auckland, New Zealand. Upzoning significantly increases the redevelopment premium, but the overall effect on house prices depends on the economic potential for site redevelopment, with underdeveloped...
Persistent link: https://www.econbiz.de/10012842319
House price trends in each of New Zealand and Australia are frequently discussed as national level developments. Sub … prices in Australia. One reason this could occur is if international macroeconomic and asset price trends dominate housing … Zealand and Australia to examine the degree of differentiation across regional housing markets. While some minor regional …
Persistent link: https://www.econbiz.de/10013138402
We quantify how output risks are smoothed within Australia, and between Australia and New Zealand. About 85 percent of … shocks were smoothed within Australia through credit and capital markets, with fiscal policy a source of dis-smoothing after … 1992. Risk-sharing between Australia and New Zealand was greater than within Europe, occurring mostly through credit …
Persistent link: https://www.econbiz.de/10014065459
We test whether a major earthquake in one city (Christchurch, New Zealand) affects the prices of earthquake-prone commercial buildings in a city (Wellington) that was unaffected by the disaster. In particular, we test whether the official public declaration of a building as being...
Persistent link: https://www.econbiz.de/10013012128
This paper provides an analysis of how the New Zealand tax system may be affecting residential property markets. Like most OECD countries, New Zealand does not tax the imputed rent or capital gains from owner-occupied housing. Unlike most OECD countries, since 1989 New Zealand has taxed income...
Persistent link: https://www.econbiz.de/10012956216