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We examine whether a single housing market exists across 16 cities covering two countries, Australia and New Zealand … single housing market across these cities, then the economic forces that lead to such convergence must be other than … commuting arbitrage forces that have been posited as driving convergence in densely populated countries such as the United …
Persistent link: https://www.econbiz.de/10011883121
A considerable housing boom has been a key feature of persistently large saving-investment imbalances in New Zealand over the past decade. Wealth is concentrated to a greater extent in property compared to most other OECD countries, leaving households and the banking system heavily exposed to a...
Persistent link: https://www.econbiz.de/10009149950
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/10008603116
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
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. The model incorporates functions describing the demand to rent or purchase housing, a function describing the...
Persistent link: https://www.econbiz.de/10008502084
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
Housing markets and their cycles are central to understanding macroeconomic fl uctuations. As housing is an inherently spatial market, an understanding of the economics of location-specific amenities is needed. This paper examines this topic, using a rich dataset of 25 primary location-specific...
Persistent link: https://www.econbiz.de/10011145377
In spite of a growing recognition of the importance of supply conditions for the level and volatility of house prices, empirical work on housing supply outside the US is scarce. This paper considers various measures of housing supply in the Netherlands, where real house prices have roughly...
Persistent link: https://www.econbiz.de/10011255818
Israeli house prices have risen by over 50% over the past three years. In part this reflects the fact that for several years housing construction had not kept pace with increases in the number of households. In response to these developments, hitherto sluggish planning-approval processes are...
Persistent link: https://www.econbiz.de/10009386331