Adelaide's Heart Transplant, 1970–88: 2. The ‘Transfer’ of Value within the Housing Market

1992 ◽  
Vol 24 (3) ◽  
pp. 323-339 ◽  
Author(s):  
B A Badcock
Keyword(s):  
Built Environment ◽  
Housing Market ◽  
Urban Space ◽  
Capital Flows ◽  
Regression Models ◽  
House Prices ◽  
Wealth Accumulation ◽  
Urban Restructuring ◽  
Value Transfer ◽  
Differential Movement

Regression analysis is used to examine the interaction of a number of processes that are thought to be responsible for the geographical transfer of value within the built environment. These are derived from an account by Smith of the restructuring of urban space. The ‘transfer’ of value is imputed from the differential movement of house prices between 1970 and 1988 for geographical submarkets within the Adelaide Metropolitan Area. Although the interpretation of the regression models is complicated, the evidence for a tilting of the ‘value transfer’ gradient from an inner-outer bias, to an outer—inner bias, can be statistically inferred from the processes of restructuring that have redirected capital flows within the built environment of Australian cities such as Adelaide, Sydney, and Melbourne in the course of the last two decades. Thus the uneven capital formation that characterises urban restructuring and is ultimately capitalised into real changes in house prices is a significant source of the added wealth that is accumulated from homeownership. By this means it is possible to bridge the two ‘islands’ of theory: Smith's account of urban restructuring and Saunders's concern with the sources of wealth accumulation within the housing market.

scholarly journals ANALYSIS OF DIFFERENT REGRESSION MODELS FOR REAL ESTATE PRICE PREDICTION

2021 ◽  
Vol 5 (11) ◽  
Author(s):  
Pranav Kangane ◽  
Aadesh Mallya ◽  
Aayush Gawane ◽  
Vivek Joshi ◽  
Shivam Gulve
Keyword(s):  
Real Estate ◽  
Housing Market ◽  
Regression Models ◽  
Mean Squared Error ◽  
House Prices ◽  
Absolute Error ◽  
Performance Comparison ◽  
Squared Error ◽  
Estate Property ◽  
Market Strategies

The housing market is a standout amongst the most engaged with respect to estimating the price and continues to vary. Individuals are cautious when they are endeavoring to purchase another house with their financial plan and market strategies. Consequently, making the housing market one of the incredible fields to apply the ideas of machine learning on how to enhance and anticipate the house prices with precision. The objective of the paper is the prediction of the market value of a real estate property and present a performance comparison between various regression models applied. Nine algorithms were selected to predict the dependent variable in our dataset and then their performance was compared using R2 score, mean absolute error, mean squared error and root mean squared error. Moreover, this study attempts to analyze the correlation between variables to determine the most important factors that are bound to affect the prices of house.

Homeownership and the Accumulation of Real Wealth

1989 ◽  
Vol 7 (1) ◽  
pp. 69-91 ◽  
Author(s):  
B A Badcock
Keyword(s):  
Housing Market ◽  
House Price ◽  
Urban Housing ◽  
Capital Gains ◽  
Wealth Accumulation ◽  
Property Market ◽  
Urban Restructuring ◽  
Price Inflation ◽  
Capital Growth ◽  
Generative Mechanisms

The contention surrounding the significance of homeownership for social theory is reviewed, after which it is suggested that the conceptualisation of wealth accumulation for homeownership has yet to comprehend fully the ‘generative mechanisms' underlying capital gains or losses. There is a need to advance beyond the rather limited analysis developed by Thorns in 1981, to a consideration of the connections between urban restructuring, the transfer of value, and capital growth within the urban housing market. Trends in Adelaide's separate-housing market, 1968–75, are outlined to provide a context for the central question; that is, what is the relationship between class position and house price inflation? Too much temporal and spatial variability is encountered in a number of estimates of capital growth in the separate-house submarket to sustain the claim that this source of accumulation systematically favours those homeowners with the greatest real investment in housing. Regression analysis is used to demonstrate that at least some of the variability in capital gains or losses can be accounted for by indicators that relate to processes of urban restructuring. Further clarification of the theoretical significance of homeownership for social reconstitution must await a longitudinal study of the passage of households through the domestic property market in the course of a lifetime.

scholarly journals The role and significance of planning in the determination of house prices in Australia: Recent policy debates

2021 ◽  
pp. 0308518X2198894
Author(s):  
Peter Phibbs ◽  
Nicole Gurran
Keyword(s):  
Land Use ◽  
Housing Market ◽  
Land Use Planning ◽  
House Prices ◽  
Housing Prices ◽  
House Price ◽  
Evidence Base ◽  
Urban Housing ◽  
Price Inflation ◽  
Depth Analysis

On the world stage, Australian cities have been punching above their weight in global indexes of housing prices, sparking heated debates about the causes of and remedies for, sustained house price inflation. This paper examines the evidence base underpinning such debates, and the policy claims made by key commentators and stakeholders. With reference to the wider context of Australia’s housing market over a 20 year period, as well as an in depth analysis of a research paper by Australia’s central Reserve Bank, we show how economic theories commonly position land use planning as a primary driver of new supply constraints but overlook other explanations for housing market behavior. In doing so, we offer an alternative understanding of urban housing markets and land use planning interventions as a basis for more effective policy intervention in Australian and other world cities.

Producing space, the confrontation between abstract space and everyday life: ‘I wunder if heaven got a ghetto”

2013 ◽  
Vol 17 (2) ◽  
pp. 139-147 ◽  
Author(s):  
Tonia Carless
Keyword(s):  
Urban Space ◽  
Historical Analysis ◽  
Uneven Development ◽  
Abstract Space ◽  
Late Capitalism ◽  
Urban Restructuring ◽  
The Social ◽  
Macro Scale ◽  
Local Space ◽  
Cardiff Bay

This paper is intended as a contribution to current debates about the changing conditions of urban space and uneven development. It will analyse the functions of the architectural professions in this process and how their productions prefigure the social and economic arrangement of space. It will examine these notions through analysis of Cardiff Bay and will analyse the changes occurring under late capitalism in the shift to Post-Fordist modes of accumulation. While the paper will examine the local space of Cardiff Bay, the analytical ground will be extended to the ongoing restructuring of space under the new global economies at a macro scale.Urban restructuring is most evident in the decentred metropolis of the post-modern city, the new cities for consumption. The growth or collapse of multinational capital needs to be seen as framing the occupation of space, its investment and disinvestment, and as an ongoing process, part of a systematic reprogramming of space that can and should be examined at every stage of its operations.Relocating the economic, political and social into considerations of space means that the paper will also incorporate historical analysis of modes of production and social formations. To consider space as ideological means that transfigured space must also be considered. The paper will therefore raise ideas that are directed towards the transformation of social and political space, and will examine that which identifies Lefebvre's distinction between appropriated and dominated space.

scholarly journals Agglomeration effects and housing market dynamics

2021 ◽  
Author(s):  
Christian Nygaard ◽  
Sharon Parkinson ◽  
margaret reynolds
Keyword(s):  
Housing Market ◽  
House Prices ◽  
Market Dynamics ◽  
Agglomeration Effects

This research quantifies productivity-related agglomeration benefits arising from the concentration of employment in Australia. While agglomeration provides a policy rationale for densifying cities and concentrating employment, it also leads to higher house prices, which reduce entry and ongoing affordability, greater pollution and other wellbeing detriments such as crime, crowding and noise.

scholarly journals Wpływ kapitału społecznego mieszkańców na kształtowanie przestrzeni wspólnych w środowisku mieszkaniowym

2020 ◽  
pp. 42-54
Author(s):  
Anna Cudny
Keyword(s):  
Social Capital ◽  
Built Environment ◽  
Public Space ◽  
Development Strategy ◽  
Urban Space ◽  
National Development ◽  
Local Communities ◽  
Aesthetic Quality ◽  
The Social ◽  
The City

Influence of social capital of inhabitants on shaping common spaces in a housing environment The last two decades of the century have brought unusually many changes in the built environment. These include not only changes directly related to the emergence of a new urban fabric, but also changes in social attitudes towards common spaces located in residential areas. The built environment has never been evaluated so strongly. This assessment translates not only into the everyday outdoor activities of residents (necessary, optional and social activities), but also to economic projects (purchase, sale and rental of real estate). At the same time, the city ceases to be, as it has been so far, mainly subjected to criticism, and the residents are gradually changing their demanding attitude concerning the development of space to participate in the process of its creation. Society wants to have a real impact on urban space, especially on the space closest to them. Thus, the right to the city is no longer a privilege or a duty, but it becomes a need. Trying to meet this need results in a phenomenon which we can increasingly observe in Poland, and which we have been witnessing abroad for many years: activities in public space are changing into activities for public space. They include the transformation of common spaces related to the place of residence—improving their aesthetic quality, functional changes, modernization of development elements. Observing numerous examples of public participation in shaping public spaces, it was noticed that the initiation, course and effects of activities largely depend on the social capital of the group undertaking said activity. Accordingly, there is a need for research on the mutual relation between the level of social capital and the issue of shaping and managing public space with the participation of local communities, which will be the main topic of the paper. To investigate the above-mentioned issue, qualitative research methods were used in relation to the relationship: site visit, non-participant observation and focus interviews. This contributed to a comparative study of three selected Warsaw case studies. They were analysed in terms of meeting the qualitative criteria selected for the study. These criteria have been indicated on the basis of the Social Capital Development Strategy 2020, which is one of the parts of the Medium-Term National Development Strategy. The result of the analyses is an indication of derived factors from within the group of space users and external factors that have a positive and negative impact on initiating, carrying out and maintaining the effects of changes in common spaces developed with the participation of local communities in Polish conditions. The conclusions can be used to improve future participation processes related to urban space - both by non-professionals participating in them, as well as experts - architects and town planners.

scholarly journals Are There Any Housing Bubbles in Turkey?

2021 ◽  
Author(s):  
Özge Korkmaz ◽  
Ebru Çağlayan Akay ◽  
Hoşeng Bülbül
Keyword(s):  
Housing Market ◽  
House Prices ◽  
Housing Prices ◽  
Housing Price ◽  
Economic Fundamentals ◽  
The Past ◽  
Price Increases ◽  
Long Time ◽  
Housing Bubbles ◽  
Turkish Lira

It is very important that the housing market, which meets the most basic need of people is needed for shelter from the past to the present, has a stable structure. The instability structure of the housing market is generally associated with the presence of housing bubbles. The deviation of housing prices from their basic value and not being able to be explained by economic fundamentals leads to the formation of housing bubbles. Housing bubbles can lead to permanent losses, as it may take a long time to return to normal prices. For Turkey as a developing country, it is important to identify an unstable structure in house prices discuss the basic economic factors related to this. After the global increases in housing prices, inflation, and depreciation in the Turkish lira, Turkey has become the country with the highest housing price increases globally in 2020. In the study, the presence of bubbles in the housing market for Ankara, Izmir, Istanbul, and Turkey in general, was investigated by SADF and GSADF unit root tests for the period 2010:01-2021:02. In this context, the study examines the presence of bubbles in housing prices for Ankara, Izmir, Istanbul, and Turkey in general, which are the three cities with the highest price increases. As a result of the study, the presence of bubbles in the housing market has been determined for Ankara, Istanbul, Izmir, and Turkey in general.

Enshrining Terror for the Nation: Affect and Nationalism at the National September 11 Memorial and Museum

2021 ◽  
Author(s):  
Tim Gruenewald
Keyword(s):  
Built Environment ◽  
Urban Space ◽  
Social Impact ◽  
September 11 ◽  
Reciprocal Relationship ◽  
Non Linear ◽  
Affective Intensity ◽  
Excessive Number ◽  
Memorial Space

Abstract The National September 11 Memorial and Museum (9/11 MM) employs affective rhetoric to enshrine the trauma of September 11 in support of U.S. nationalism. Applying Brian Massumi's understanding of affect as intensity, I examine how the site's rhetoric amplifies affect. The memorial pools and many signifiers of destruction magnify affective intensity through scale and repetition. The 9/11 MM continues its affective onslaught through an excessive number of shocking visuals and narrative details in its historical exhibition. The site’s affective intensity culminates in a non-linear and non-narrative memorial space of seemingly infinite individualized mourning. The article discusses the site's political and social impact by considering Nigel Thrift's idea of affect in the built environment as imbedded thought and Georg Böhme's theory of atmosphere, understood as the reciprocal relationship between affective urban space and its impact on people.

Rent or buy, what are the odds? Analysing the price-to-rent ratio for housing types within the Northern Ireland housing market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Daniel Lo ◽  
Michael James McCord ◽  
John McCord ◽  
Peadar Thomas Davis ◽  
Martin Haran
Keyword(s):  
Housing Market ◽  
House Prices ◽  
House Price ◽  
Main Property ◽  
Property Market ◽  
Important Indicator ◽  
Content Type ◽  
Rental Market ◽  
Price Series ◽  
The Relationship

Purpose The price-to-rent ratio is often regarded as an important indicator for measuring housing market imbalance and inefficiency. A central question is the extent to which house prices and rents form part of the same market and thus whether they respond similarly to parallel stimulus. If they are close proxies dynamically, then this provides valuable market intelligence, particularly where causal relationships are evident. Therefore, this paper aims to examine the relationship between market and rental pricing to uncover the price switching dynamics of residential real estate property types and whether the deviation between market rents and prices are integrated over both the long- and short-term. Design/methodology/approach This paper uses cointegration, Wald exogeneity tests and Granger causality models to determine the existence, if any, of cointegration and lead-lag relationships between prices and rents within the Belfast property market, as well as the price-to-rent ratios amongst its five main property sub-markets over the time period M4, 2014 to M12 2018. Findings The findings provide some novel insights in relation to the pricing dynamics within Belfast. Housing and rental prices are cointegrated suggesting that they tend to move in tandem in the long run. It is further evident that in the short-run, the price series Granger-causes that of rents inferring that sales price information unidirectionally diffuse to the rental market. Further, the findings on price-to-rent ratios reveal that the detached sector appears to Granger-cause those of other property types except apartments in both the short- and long-term, suggesting possible spill-over of pricing signals from the top-end to the lower strata of the market. Originality/value The importance of understanding the relationship between house prices and rental market performance has gathered momentum. Although the house price-rent ratio is widely used as an indicator of over and undervaluation in the housing market, surprisingly little is known about the theoretical relationship between the price-rent ratio across property types and their respective inter-relationships.

Sign in / Sign up

Export Citation Format

Share Document