Browsing by Author "Squires G"

Now showing 1 - 20 of 24
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    Editorial: Housing affordability – can we put the housing wealth genie back in the bottle?
    (Emerald Publishing Limited, 23/01/2020) Squires G; White D
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    Grand Ideas or Delusions of Grandeur? Placing big thinkers and essential theories in property economics research
    (30/03/2022) Squires G
    Purpose: 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.
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    House price affordability, the global financial crisis and the (ir)relevance of mortgage rates
    (Taylor and Francis Group on behalf of the Regional Studies Association, 5/08/2019) Squires G; Webber DJ
    Although 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.
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    House prices, airport location proximity, air traffic volume and the COVID-19 effect
    (Taylor and Francis Group on behalf of the Regional Studies Association, 2023-04-12) Ngo T; Squires G; McCord M; Lo D
    Although house prices and airports are influenced by distinct factors that shape their evolutions, they are also intrinsically connected through the natural and built environment. Standard theory suggests that air-traffic noise and proximity to key economic hubs such as airports are of prime importance to house prices and the housing market. This study contributes to understanding the link between the housing market, airport location proximity and air traffic. The research investigates this association across four key urban areas within New Zealand proximal to an international airport: Auckland, Wellington, Christchurch and Queenstown. Applying a generalized least squares (GLS) regression approach, the analysis reveals that house prices, air-traffic activity and proximity to airports within New Zealand demonstrate a statistically significant effect, and that air traffic volume has a positive effect on house prices. Moreover, the findings reveal a ‘U’-shape relationship between distance to the airport and house prices, suggesting that airport noise and pollution adversely affect house prices, with this effect diminishing with distance, indicating that economic influences and employment may also serve as a positive externality.
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    Housing Charges to Fund Bulk Infrastructure: Innovative or Traditional?
    (Taylor & Francis Group, 14/01/2021) Squires G; Javed A; Trinh HH
    This 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.
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    Land banking, land price and Ghana’s informal land markets: A relational complexity approach
    (Elsevier Ltd, 2024-06) Sasu A; Javed A; Muhammad I; Squires G
    Land banking practices have received little attention on how such practices shape informal land markets in developing countries. Drawing on a relational complexity framework, this study explores the land banking experience in Ghana’s informal land markets. This research conducted semi-structured interviews with over thirty participants from four communities within the Ghanaian informal land market. The analysis revealed that developers are banking large tracts of land as capital investments through land dispositions. The absence of development on these banked lands has created a situation where developers are gradually influencing land prices. The analysis also shows that developers have created complex ongoing relationships with customary land managers. This coalition relationship has shaped land prices through the displacement of state-mediated statutory powers for land exchanges. The study recommends revisiting of stakeholder discussions on the enforcement and monitoring of the processes required under the Ghanaian Lands Commission guidelines for large-scale land transactions.
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    Locked Out: Generational inequalities of housing tenure and housing type
    (Emerald, 12/07/2022) Lowies B; Squires G; Rossini P; McGreal S
    Purpose: 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.
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