Browsing by Author "Squires G"
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- ItemEditorial(Emerald Publishing Limited, 2020-01-23) Squires G; White D
- ItemGrand Ideas or Delusions of Grandeur? Placing big thinkers and essential theories in property economics research(2022-03-30) Squires GPurpose: This article is looking to reflect on the various important touchstones of “grand theory” and “big thinkers” that can be framed when engaging empirical evidence in property economics research. Design/methodology/approach: The paper is reflexive in nature, using experiential reflection to consider theory in property economics. The importance of “methodology” is emphasised rather than “method”. Findings: Using reflexive mode, the paper does not have “findings” as such: if the views expressed are accepted, then a research agenda to better understand property economics research is implied. Research limitations/implications: The nature of reflection is that it follows from the writer's experiential processes and interpretations. The reader may come from a different stance. Broadly accepting the propositions, there is a call for property economics research to be formulated in reason and logic, particularly as humans do not reason from facts alone. Such reasoned thinking could for example be in the property economic concepts of space and place, contracts and justice, capital and financialisation. Practical implications: To engage with such theory would provide some depth of philosophical roots for property as a discipline. Elevating property as a “real-world” discipline rather than simply an applied mathematics discipline. Social implications: The paper enables an understanding of how property economics research can benefit from more ontology and more inductive reasoning. Originality/value: The paper reflects the views and experience of the author based on over 15 years of research in property economics.
- ItemHouse price affordability, the global financial crisis and the (ir)relevance of mortgage rates(Taylor and Francis Group on behalf of the Regional Studies Association, 2019-08-05) Squires G; Webber DJAlthough house prices and wages are both influenced by distinct factors that shape their own evolutions, they are also intrinsically connected through house price affordability. Further, macroeconomic policies centred around adjustments in the mortgage rate are of prime importance in ensuring that the housing market does not overheat. This study contributes to the understanding of the link between housing market affordability and mortgage rates by investigating this association across regions of New Zealand using quarterly data between 2000 and 2017. Applications of trajectory regression reveal that the global financial crisis affected regional house price affordability asymmetrically and there was no statistically significant correlation between house price affordability and mortgage rates.
- ItemHousing Charges to Fund Bulk Infrastructure: Innovative or Traditional?(Taylor & Francis Group, 2021-01-14) Squires G; Javed A; Trinh HHThis study investigates whether the use of housing charges is an innovative or traditional instrument in financing bulk infrastructure. It develops a conceptual framework to demonstrate how housing charges are perceived as an innovative model of financing and funding bulk infrastructure. Research focuses on a case study policy pilot infrastructure project in New Zealand, with primary evidence gathered from informed professional stakeholder interviews. The findings highlight that revenue streams are the most common concern when applying the infrastructure funding and financing (IFF) model to deal with bulk infrastructure. Further, as housing charges are a new instrument generating cash flows to finance bulk infrastructure, it is found that financing infrastructure development is only innovative in terms of its mechanics, legislation and policy setting.
- ItemLocked Out: Generational inequalities of housing tenure and housing type(Emerald, 2022-07-12) Lowies B; Squires G; Rossini P; McGreal SPurpose: The purpose of this paper is to first explore whether Australia and the main metropolitan areas demonstrate significant differences in tenure and property type between generational groups. Second, whether the millennial generation is more likely to rent rather than own. Third, if such variation in tenure and property type by millennials is one of individual choice and lifestyle or the impact of housing market inefficiencies. Design/methodology/approach: This paper employs a comparative research approach using secondary data from the Australian Bureau of Statistics (ABS) to consider housing tenure and type distributions across generations as well as through cross-city analysis. Findings: The results show that home ownership is still the dominant tenure in Australia, but private rental is of increasing significance, becoming the tenure of choice for Millennials. Owner occupation is shown to remain and high and stable levels for older generations and while lower in percentage terms for Generation X; this generation exhibits the highest growth rate for ownership. Significant differences are shown in tenure patterns across Australia. Originality/value: The significance of this paper is the focus on the analysis of generational differences in housing tenure and type, initially for Australia and subsequently by major metropolitan areas over three inter-census periods (2006, 2011 and 2016). It enhances the understanding of how policies favouring ageing in place can contradict other policies on housing affordability with specific impact on Millennials as different generations are respectively unequally locked-out and locked-in to housing wealth.
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q1 2022(2022-04-01) Javed A; Squires G
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q2 2021(2021-06-01) Squires G; Javed A
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q2 2022(2022-07-01) Javed A; Squires G
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q3 2021(2021-09-01) Javed A; Squires G
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q3 2022(2022-10-01) Javed A; Squires G
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q4 2021(2021-12-22) Javed A; Squires G
- ItemNew Zealand Home Affordability Report: Quarterly Survey Q4 2022(2023-01-02) Javed A; Squires G
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q1 2022(2022-04-01) Javed A; Squires G
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q2 2021(2021-06-01) Squires G; Javed A
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q2 2022(2022-07-01) Javed A; Squires G
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q3 2021(2021-09-01) Javed A; Squires G
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q3 2022(2022-10-01) Javed A; Squires G
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q4 2021(2021-12-01) Javed A; Squires G
- ItemNew Zealand Residential Rental Market Report: Quarterly Survey Q4 2022(2023-01-02) Javed A; Squires G
- ItemThe connectedness of house price affordability and rental price affordability measures(Emerald, 2022-04-22) Squires G; Webber D; Trinh H; Javed APurpose: The purpose of this paper is to examine the relationship between house price affordability (HPA) and rental price affordability (RPA) in New Zealand. The cointegration of HPA and RPA is of particular focus given rising house prices and rising rents. Design/methodology/approach: The study examines the lead-lad correlation between HPA and RPA. The method uses a generalised least square technique and the development of an ordinary least squares model. Findings: The study shows that there is an existence of cointegration and unidirectional statistical causality effects between HPA and RPA across 11 regions in New Zealand. Furthermore, Auckland, Wellington and Canterbury are the three regions in which the results detect the most extreme effects amongst HPA and RPA compared to other places in the country. Extended empirical work shows interesting results that there are lead-lag effects of HPA and RPA on each other and on mortgage rates at the national scale. These effects are consistent for both methods but are changed at individual lead-lag variables and amongst different regions. Originality/value: The study empirically provides useful insight for both academia and practitioners. Particularly in examining the long-run effects, cointegration and forecasting of the volatile interactions between HPA and RPA.