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1 – 10 of over 96000The purpose of this paper is to examine whether the house prices in Finland share financial characteristics with assets such as stocks. The studied regions are 15 main regions in…
Abstract
Purpose
The purpose of this paper is to examine whether the house prices in Finland share financial characteristics with assets such as stocks. The studied regions are 15 main regions in Finland over the period of 1988:Q1-2018:Q4. These regions are divided geographically into 45 cities and sub-areas according to their postcode numbers. The studied type of dwellings is apartments (block of flats) divided into one-room, two rooms and more than three rooms apartment types.
Design/methodology/approach
Both Ljung–Box and Lagrange multiplier tests are used to test for clustering effects (autoregressive conditional heteroscedasticity effects). For cities and sub-areas with significant clustering effects, the generalized autoregressive conditional heteroscedasticity (GARCH)-in-mean model is used to determine the potential impact that the conditional variance may have on returns. Moreover, the exponential GARCH model is used to examine the possibility of asymmetric effects of shocks on house price volatility. For each apartment type, individual models are estimated; enabling different house price dynamics, and variation of signs and magnitude of different effects across cities and sub-areas.
Findings
Results reveal that clustering effects exist in over half of the cities and sub-areas in all studied types of apartments. Moreover, mixed results on the sign of the significant risk-return relationship are observed across cities and sub-areas in all three apartment types. Furthermore, the evidence of the asymmetric impact of shocks on housing volatility is noted in almost all the cities and sub-areas housing markets. These studied volatility properties are further found to differ across cities and sub-areas, and by apartment types.
Research limitations/implications
The existence of these volatility patterns has essential implications, such as investment decision-making and portfolio management. The study outcomes will be used in a forecasting procedure of the volatility dynamics of the studied types of dwellings. The quality of the data limits the analysis and the results of the study.
Originality/value
To the best of the author’s knowledge, this is the first study that evaluates the volatility of the Finnish housing market in general, and by using data on both municipal and geographical level, particularly.
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When dwellings fail to respond to residents’ needs, housing will suffer from segregation and buildings will possibly be demolished ahead of their time. This paper focuses on the…
Abstract
Purpose
When dwellings fail to respond to residents’ needs, housing will suffer from segregation and buildings will possibly be demolished ahead of their time. This paper focuses on the lack of variation in the sizes of dwellings as a factor in residential segregation. It examines this issue in the context of Finnish mass housing built in the 1960s and 1970s. The purpose of the paper is to review how mass housing layouts can be adapted to produce the currently absent flat sizes.
Design/methodology/approach
The paper operates at the intersection of human geography, building stock research and adaptability research. First, statistical data are utilized to investigate how dwellings and households of different sizes are distributed over the Finnish housing stock. Second, the building layouts of mass housing are examined in detail. Third, the potential that flats in mass housing have for size modification is reviewed.
Findings
There is a disparity of available dwelling sizes between different housing types, and statistics show that the proportion of large households has decreased significantly in blocks of flats over the last decades. The lack of large dwellings in mass housing may contribute as one factor to the segregation of the neighborhoods built in the 1960s and 1970s. The findings show how the variation of apartment sizes can be increased in mass housing.
Originality/value
The housing stock is rarely examined in detail in segregation research, even though it is a major determinant for a city’s social structure. This paper argues that to address segregation sustainably, it is necessary to understand the housing stock better and to view it as an adaptable asset.
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Noor Cholis Idham, Ibrahim Numan and Munther Mohd
One of the most important issues arising from the 2006 Java earthquake is that many of the Javanese houses were easily collapsed or badly damaged due to the quake. The failure of…
Abstract
One of the most important issues arising from the 2006 Java earthquake is that many of the Javanese houses were easily collapsed or badly damaged due to the quake. The failure of the vernacular houses was also believed to be a principle factor in causing the casualties. As a replacement, the government built reconstruction houses which differ in form, size and structure to the earlier houses. Intensive campaigns were conducted to encourage and support the construction of compacted dwellings with brick walls and concrete frame systems. In view of the fact that the collapsed houses were comprised of many of the various types of Javanese vernacular structures in the area, including the recent well known reinforced concrete frame type, uncertainty in deciding which house is really fulfill the need of the people has emerged. Even though the new houses are thought to be more stable in respect of earthquake safety, the other values in housing should be examined and reassured.
The comparative study presented in this paper, is based on a housing quality assessment method, which employs using an adaptation of Maslow's theory. Here, an interpretation related to the housing aspects in respect of the specific grading method is proposed. Following the earthquake, all Javanese house types were examined from the old traditional housing to the newly built houses. Aspects of evaluating the quality are considered according to local requirements and needs in respect of how the houses had been built according to the climate, needs, customs, safety, security, utility and comfort. This was done in order to compare the developments and changes in quality of the various types of housing. The result of the assessment applied to the houses shows that the Javanese housing quality is constantly changing over time for particular reasons. Unfortunately, according to this study, the overall quality of Javanese houses is currently, for some reason, in a downward trend.
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Jacques du Toit and Claire Wagner
The purpose of this article is to examine the effect of housing type, relative to demographics, on householders' self-reported recycling across low-, medium- and high-density…
Abstract
Purpose
The purpose of this article is to examine the effect of housing type, relative to demographics, on householders' self-reported recycling across low-, medium- and high-density housing without recycling facilities by using the theory of planned behaviour.
Design/methodology/approach
A survey was conducted amongst 580 households across houses, townhouses and apartments in Pretoria, South Africa. The household member most responsible for recycling completed a self-administered questionnaire. Data were analysed using factor and reliability analyses, decision trees and multivariate analysis of variance.
Findings
Age was the strongest predictor; the older the respondent, the more likely the household recycled. Housing type was the second strongest predictor with a significant increase in recycling in houses compared to townhouses and apartments. Subsequent analyses focussed on young respondents to control for age. Housing type had an overall non-significant effect on the factors behind recycling. Post hoc tests, however, suggest that young respondents in townhouses and apartments felt significantly less able to recycle, particularly because of lack of space and support from managing agencies.
Practical implications
For recycling to be acceptable to young people in medium- and high-density housing, interior architects and site planners should find innovative ways to make individual and communal facilities as convenient and accessible as possible to tenants, owners and recycling companies. The role of managing agencies is also critical.
Originality/value
This study is one of the first to systematically examine recycling across three different housing types with recommendations for planning, design and further research.
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Braam Lowies, Graham Squires, Peter Rossini and Stanley McGreal
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…
Abstract
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.
Jean-Pierre El Wazan and Ruwini Edirisinghe
Agricultural land loss is a severe issue that Australia faces, along with many other countries. Myriad research studies have discussed the reasons for such land loss, including…
Abstract
Purpose
Agricultural land loss is a severe issue that Australia faces, along with many other countries. Myriad research studies have discussed the reasons for such land loss, including urban sprawl as the main factor and factor's repercussions. However, there is a knowledge gap in understanding the impact of dwelling type on farming land reduction. Also, there is an application gap, particularly in the local context. The purpose of this study is to discover the effect of differing dwelling types (compact and non-compact) in metropolitan areas with a growing population (such as Craigieburn) toward potentially noticeable agricultural land loss.
Design/methodology/approach
This paper aims to fill these research and practice gaps through a case study using a mixed methods approach. A quantitative analysis was conducted of housing types, the types' growth and agricultural land area taken up by those different housing types over 18 years. Thematic analysis of policies, strategies, schemes and codes relevant to the case study enabled a better understanding of practice gaps.
Findings
The study revealed a significant loss of agricultural land. Separate housing was found to be the main culprit due to the number of houses and the area the houses require, thus exhibiting the lack of practical guidelines to prevent the houses' overdevelopment. The findings enabled the identification of opportunities for better practice through government intervention and potential industry alterations.
Originality/value
Previous literature has primarily explored the issues associated with urban sprawl and the sprawl's unsustainability. This research paper offers a more targeted insight into one of the key factors leading to urban sprawl: the types of dwellings being constructed.
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Merve Koçak Güngör and Fatih Terzi
As an important indicator of the quality of life of individuals, residential environments are continuing to evolve, due to the rapidly changing production–consumption relations…
Abstract
Purpose
As an important indicator of the quality of life of individuals, residential environments are continuing to evolve, due to the rapidly changing production–consumption relations. However, in this evolving process, the effect of the differentiated residential environments on the individuals' residential satisfaction remains unclear. This paper aims to measure the effects of the varying residential environments on the overall quality of urban life (QoUL) in Kayseri, one of the most developed cities in Central Anatolia.
Design/methodology/approach
It is based on empirical data on the quality of life in the different residential environments of Kayseri. The research method used stratified purposeful sampling, and the household survey data were analyzed using factor analysis, multiple regression and ANOVA statistical methods.
Findings
The most influential factors on the overall QoUL of individuals living in different Kayseri residential neighborhoods were satisfaction with neighborhood and city-level urban services, neighborhood relations and belonging factor groups. The critical finding obtained in this study is that residential satisfaction in low-rise and compact form housing areas in Kayseri is higher compared to residential satisfaction in high-rise neighborhoods. This result reveals that the high-rise building typology that is dominant in Turkey's big cities should be seriously questioned, and urban development policies should be re-evaluated.
Research limitations/implications
The study was designed to produce baseline data so that future changes in residential conditions as perceived by the residents of Kayseri could be monitored to support decisions for residential areas.
Originality/value
Comparative case studies, particularly on low-rise versus high-rise environments, are scarce. As a result, this research contributes to the field of comparative studies on residential environments.
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Gary John Rangel, Jason Wei Jian Ng., Thangarajah Thiyagarajan Murugasu and Wai Ching Poon
The purpose of this study is to use a lifetime income measure to evaluate the long-run housing affordability for an understudied cohort of households in the literature – the…
Abstract
Purpose
The purpose of this study is to use a lifetime income measure to evaluate the long-run housing affordability for an understudied cohort of households in the literature – the millennials. The authors do this in the context of Malaysia, measuring long-run affordability for four housing types across geographic locations and income distributions.
Design/methodology/approach
This study calculates a long-run housing affordability index (HAI) using data on house prices and household incomes. Essentially a ratio of predicted lifetime incomes to house prices, the HAI is computed for four common housing types in Malaysia from 2005 to 2016 and for six states in the country. The HAI is also compared across four income percentiles.
Findings
The analysis reveals varying patterns of housing affordability among different states in Malaysia. Housing affordability has declined since 2010, with most housing types being unaffordable for millennial-led households with the lowest income. Housing is most affordable for those in the highest income bracket, although even here, there are pockets of unaffordable housing as well.
Practical implications
Based on the findings, this study proposes three targeted interventions to improve housing affordability for Malaysian millennials.
Originality/value
This study fills a gap in the literature by examining the long-run housing affordability of Malaysian millennial-led households based on both geographic location and income distribution. The millennial population is understudied in the housing affordability literature, making this study a valuable contribution to the field.
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Aysu Akalın, Kemal Yıldırım, Çiğdem Yücel and Can Güngör
The intent and aim of the research was to look at a particular house type i.e. a terraced house with four floors, which is one of the popular designs commonly used in the last ten…
Abstract
The intent and aim of the research was to look at a particular house type i.e. a terraced house with four floors, which is one of the popular designs commonly used in the last ten years in mass housing projects in Turkey. There are four alternatives of the type related with the cross-sectional relationship with the ground floor level. Emphasis was placed upon the "semi-cellar type" assuming that even though the level of residential satisfaction gradually increases with the possibility of interpreting the use of the open-plan floor space, and by proposing new design elements to create more adaptable and flexible spaces, the users may still experience dissatisfaction with designs where the space cannot be revised. With the use of a questionnaire, participants judged their own house as a whole and evaluated its uses for different functions and activities, complained in respect of changes required, and finally outlined their plans for the future. Despite the high level of satisfaction with having a garden (a unique characteristic in apartment-saturated Ankara), the aspect of dissatisfaction mostly referred to was the kitchen-garden relationship (or lack thereof). The residents, especially the older ones, were generally dissatisfied with the multi-storey design of their house. They prefer to remain on the backyard level without changing floors in different seasons. Besides, the users spending the longest time in the house complained more than the others and the people spending variable time in the house stated that they preferred to change the floors in different seasons. As compared to larger families, the smaller families were more likely to change floors.
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Using two nationally representative samples from 1988 and 1995, this study demonstrates that housing quality in urban China differs across time, housing types, and socioeconomic…
Abstract
Using two nationally representative samples from 1988 and 1995, this study demonstrates that housing quality in urban China differs across time, housing types, and socioeconomic variables. But some key variables such as Communist Party membership, education, and the total family income are consistent predictors of housing quality across time and housing types. This study indicates that housing quality situations are very complex at the national level. The author concludes that more research into the quality of urban housing is needed, so that the outcomes of housing reform can be better assessed.
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