We propose a new method to estimate a repeat-sales house price index. Our unbalanced panel method employs an OLS panel regression to estimate the (log) house price as a function of time fixed effects and house-specific fixed effects. Comparisons are made across three repeat-sales methods using...

We analyze relationships between housing supply elasticities, land costs and house price dynamics, contributing three main insights. First, higher housing supply elasticities help contain short-run price spikes following demand shocks. Second, land price dynamics influence this relationship;...

Does homeownership affect individual social capital and thereby influence local outcomes? Following DiPasquale and Glaeser, a body of literature suggests that homeownership is positively related to social capital formation. Homeowners have an incentive to engage in the local community in order...

'Betterment' taxes can be used to fund infrastructure investments. We relate betterment taxes to the benefit: cost ratio, deriving conditions under which a project can be funded by such taxes, and relate betterment taxes also to a capital gains tax.

New Zealand experienced two natural experiments with respect to state-provided social housing after 1990. First, while continuing to acquire new state houses, the National Government substantially reduced the overall state house stock by selling a greater number of houses either to existing...

We examine effects of urban passenger rail upgrades to Auckland’s Western Line, including double tracking, station development, and related urban renewal projects. The results are used to assess anticipated net benefits of the developments. The rail-related upgrades are expected to be...

Dwelling prices are determined in the long run by the total costs of a development, where costs include regulatory costs, including costs of delay and uncertainty. We outline a conceptual framework for the development process and then develop a real options model of housing development that...

Does an individual’s housing situation affect community social capital and influence regional development through this channel? A body of literature which followed the seminal work of DiPasquale and Glaeser suggests that homeownership is positively related to social capital formation...

We analyse the impacts that infrastructure provision has on long run urban development. The topic is of major importance to policy-makers when deciding whether or not to invest in major infrastructure projects. The analysis helps policy-makers to understand the intended, and potentially...

This article reviews the development in the New Zealand financial sector and capital market over the last decade.