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1 – 10 of over 15000At the Conservative Party Conference of 1986, the Minister of State for Housing, Mr John Patten, outlined his intentions for a new Rent Bill to be included in his party's general…
Abstract
At the Conservative Party Conference of 1986, the Minister of State for Housing, Mr John Patten, outlined his intentions for a new Rent Bill to be included in his party's general election manifesto. This directs the spotlight onto rented housing and Mr Patten's slogan ‘the right to rent’ will no doubt lead to a lively discussion. This paper aims to contribute to the debate by reviewing two major housing reports as they relate to rents and making further suggestions.
This study aims to investigate the relationship between Airbnb and long-term residential rents, using Santa Monica, California, as a case study. In 2015, Santa Monica adopted the…
Abstract
Purpose
This study aims to investigate the relationship between Airbnb and long-term residential rents, using Santa Monica, California, as a case study. In 2015, Santa Monica adopted the home sharing ordinance (HSO), a stringent regulation aimed at restricting short-term rentals (STR). This research examines the implications of this ordinance on the local housing market.
Design/methodology/approach
The synthetic control method (SCM) is applied to a panel data set comprising Airbnb listings and residential rents from multiple cities in Los Angeles County. This approach is used to estimate the causal effects of Santa Monica’s HSO on two outcomes: Airbnb listings and residential rents.
Findings
The empirical results show a 60% reduction in Airbnb listings in Santa Monica within two years of implementing the ordinance. Despite this significant decrease, the effect of the regulation on rents was not significant. Suggestive evidence indicates that the ordinance’s ineffectiveness in increasing the number of houses allocated to long-term tenants may have contributed to its negligible impact on rental rates.
Originality/value
To the best of the author’s knowledge, this research is the first to use the SCM for evaluating the impact of STR regulations. It offers crucial insights to policymakers on regulating platforms like Airbnb. The study reveals a scenario where a marked decrease in Airbnb activity did not lower residential rents, highlighting the need for context-specific evaluations in understanding the housing market’s dynamics. Additionally, these findings are valuable for investors considering the implications of regulatory changes in the STR sector.
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The purpose of this study is to examine the effects of market-based approach to provision of housing to low-income households in urban Malawi.
Abstract
Purpose
The purpose of this study is to examine the effects of market-based approach to provision of housing to low-income households in urban Malawi.
Design/methodology/approach
This study was conducted in Blantyre, Malawi, between 2019 and 2022 and used both quantitative (household survey) and qualitative (in-depth interviews and document study) methods of data collection. Interviews were conducted with key players and investors in the housing sector. Household survey data were analyzed through descriptive statistics, which allowed the generation of descriptive housing valuables, whereas qualitative data were analyzed through content analysis.
Findings
This paper demonstrates that, rather than ameliorating the housing problems facing low-income households, the market approach to provision of housing in Malawi has worsened the housing situation in the country. This is so because the market approach to the provision of housing in Malawi is not only enforcing the logic of capitalistic accumulation in the housing sector but also supporting mechanisms of exclusion based on economic stratification within the community.
Research limitations/implications
Completeness of data over time as there is no market data bank available in the country.
Practical implications
The findings from this study suggest that some degree of state intervention in addressing the housing problem in Malawi is required.
Social implications
The study findings suggest that a market approach to the provision of housing can increase social inequality as low-income households face challenges in accessing housing.
Originality/value
There is a paucity of research on the effects of the market approach on the provision of affordable housing to low-income households in Malawi. This paper assesses this important policy gap and provides significant policy directions.
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Mahazril ‘Aini Yaaco, Hafizah Hammad Ahmad Khan and Nurul Hidayana Mohd Noor
This study aims to investigate the impact of housing knowledge, housing challenges and housing policy on the renting intention and satisfaction of young people.
Abstract
Purpose
This study aims to investigate the impact of housing knowledge, housing challenges and housing policy on the renting intention and satisfaction of young people.
Design/methodology/approach
A questionnaire survey helped collect data from young people in the study area, which were then analysed using the Statistical Package for the Social Sciences (SPSS) 27 software. A descriptive analysis and the Cronbach’s alpha test were adopted to analyse the data. The confirmatory factor analysis confirmed a significant relationship between housing knowledge, housing challenges and housing policy and renting intention and satisfaction.
Findings
The overall findings revealed that most young people intend to own a home one day, and a minority of them decided to continue renting. The findings suggest that there is a significant relationship between housing knowledge and housing intention. However, housing challenges and housing policies do not appear to impact renting intentions. On the other hand, housing knowledge and housing challenges were found to be associated with housing satisfaction, while housing policy does not show a significant relationship.
Research limitations/implications
This study, however, poses limitations as it uses a limited model and location and involves only a cross-sectional study. Future studies can use the methodology used in this study to conduct further investigations on housing intention and satisfaction in other regions of the country, thereby validating the findings of this study.
Practical implications
In terms of practical implications, this study has made a valuable contribution to the field of housing literature by shedding light on two crucial elements, namely, housing intention and satisfaction, which have been understudied. Understanding the determinants of housing intention and satisfaction is vital in efforts to implement appropriate policy reforms.
Social implications
Findings from this study offer valuable insight related to managerial and practical implications, with the former implicating a need to prioritise initiatives that enhance renters’ housing knowledge. Implementing educational programmes and providing accessible resources can empower renters with a better understanding of the rental process and other important housing information.
Originality/value
This paper is relevant because it provides a guideline for policymakers to initiate regulations concerning housing and implement appropriate policy reforms. This study can also help housing providers develop more affordable housing that meets the needs of young people currently renting because most have expressed their housing intentions. Understanding housing intention and satisfaction determinants is vital to implementing appropriate policy reforms.
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Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management…
Abstract
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.
Since 2000 house prices have risen much more rapidly than rents. This has resulted in questions being raised about the traditional relationship between residential rents and…
Abstract
Purpose
Since 2000 house prices have risen much more rapidly than rents. This has resulted in questions being raised about the traditional relationship between residential rents and property values. The objective of this paper is to determine if changes in private sector residential rents can be used to forecast changes in New Zealand house prices. The hypothesis being that there is a strong linkage between income and value in both the share markets and commercial property markets and the same effect is likely to be true for housing.
Design/methodology/approach
The relationship between changes in residential rents and changes in house prices over the period 1993‐2005 was determined by using correlation analysis. Cross correlations were calculated with rents leading and lagging house prices by seven half yearly periods. These calculations were computed for all New Zealand and the three main cities (Auckland, Wellington and Christchurch).
Findings
The highest correlation coefficients between rents and house prices occurred when rents lagged house prices by six months. This finding supports the contention that rents drive house prices and not vice versa.
Research limitations/implications
The main limitation with the study is the private sector data only covers a relatively short time period (1993‐2005). Longer rental time series are unreliable because they include periods when social housing rents were set at market levels and longer periods when rents were subsidised.
Practical implications
Housing in New Zealand appears to be over priced because with net yields generally less than half mortgage interest rates there is an over reliance on capital gain that is not supported by rental income.
Originality/value
The study identifies the effect of net migration on rents and explains why rental supply tends to lag demand.
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Utpal Kumar De and Vitsosie Vupru
The purpose of the study is to understand the relative impacts of structural characteristics of house, its locational attributes and neighbourhood characteristics on the choice of…
Abstract
Purpose
The purpose of the study is to understand the relative impacts of structural characteristics of house, its locational attributes and neighbourhood characteristics on the choice of house and the rent paid by the individual tenants. The micro level study helps in understanding the issues of urban housing and help in policy formulation.
Design/methodology/approach
This paper tried to identify the socio-economic, locational and neighbourhood factors that influence tenant households in determining their residential choices in an urban area of North-east India. Also, the extent of impacts of those characteristics on the monthly rent for housing is analysed. The analysis is based on the primary data collected from the sample residents of Dimapur Town in Nagaland. The sample units are selected by cluster sampling technique from all the wards. Regression technique is used under hedonic pricing technique to examine the impacts of various potential factors on the rent.
Findings
The analysis reveals that family size, income, education of the head of family, water availability, security, convenience to access workplace, road conditions, etc. have significant positive impacts on the monthly rent. However, the impacts of some locational and neighbourhood variables vary across social and economic groups.
Research limitations/implications
Time series data on the growth of house price are not available, so that the authors could examine the escalation of house price and rising scarcity of houses in the selected town.
Practical implications
Rental housing accounts for a significant percentage of housing in many urban centres. It is particularly important for the migrants and urban poor for whom it is the only source of accommodation. Location choice depending on capability, availability, requirement and neighbourhood conditions are integral parts of selection of accommodation in a city. Hence the present study has its relevant practical implications.
Social implications
Housing choice in a hilly urban area like Dimapur assumes a special significance for the presence of heterogeneous ethnic, social and cultural groups with majority of Tribal inhabitants with varied requirements and lifestyle.
Originality/value
No study on housing choice or pricing of residential accommodation has been done in North-East India. Here along with the socio-economic characteristics of the individuals, structural characteristics of house, neighbourhood and locational characteristics are used simultaneously to find out the impact of various factors on the total prices through hedonic pricing method.
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Kath Hulse, Colin Jones and Hal Pawson
The purpose of this paper is to re‐appraise the role of the private renting in the housing system drawing on a review of public policies toward the sector in six countries. It…
Abstract
Purpose
The purpose of this paper is to re‐appraise the role of the private renting in the housing system drawing on a review of public policies toward the sector in six countries. It re‐examines the adequacy of explanations about tenurial “competition” and the dynamics of tenurial change using a cross disciplinary perspective.
Design/methodology/approach
The paper critiques key explanations on the nature and type of competition between housing tenures, notably dual and unitary models, and the role of private renting in explanations of tenure dynamics. The paper also explores some of these ideas empirically by examining the changing role of the private renting relative to other tenures in a number of European countries and in Australia.
Findings
The paper expresses doubts about the potential for unitary markets to develop/continue as integrated markets because of the fundamental problems about ensuring continuing investment in the private rented sector and constraints on the maturation process, particularly where ownership of rental housing is diverse and small‐scale. The analysis suggests that housing tenures are quite fluid and with a general trend towards deregulation of private rents there is a blurring of the distinction between different types of rental systems.
Practical implications
The analysis suggests that it is critical to understand changes in private renting taking into account broader economic conditions, trade‐offs about housing consumption and investment, and public policy settings.
Originality/value
The analysis draws out theoretically, and explores empirically, the process of change in tenure relations by for the first time focusing on the role of private renting in these dynamics.
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