Over the last few years, I’ve spent some time looking at and engaging with the affordability debate. For New Zealand, it is a significant but not so hotly contested debate, given the linear rise in wages set against exponential growth of house prices across all of the regions. Here is a less technical graph of […]
Fast forward 36 years and we see the land value of sales in Auckland’s districts skyrocket. Auckland city at median land value of $500,000 (previously $11,400), plus the real boom for North Shore arriving in 2017 at an eye-watering $820,000 (previously $10,550). That is just the land value!
In playing around with QGIS for another project I’ve mapped Auckland district median land values as of 1981. Auckland City land values at a mere $11,400 in 1981. What a difference 40 years can make.
Here’s an excerpt from on recent research project on Machine Learning for Real Estate and Housing Markets… “…Here we consider all 21 national-level indicators and train models that attempt to predict Auckland’s median house prices. The figure shows the results of this experiment. The data from 2009 through to the end of 2015 was used […]
Approaches to international comparative analysis of real estate development can be used to bring out some comparisons in case study sites. Key layers and mechanisms that can be used to make such comparisons and highlight the investment and finance opportunities that are found in different property market contexts. From this model, comparisons in the financing […]
Owner-occupier motivation is multifaceted and complex. It is the precursor to energy efficiency refurbishment (i.e. action) and to encourage a greater uptake such refurbishment better understanding of this motivation is required. Existing motivation models and concepts – typically from a psychology or sociology perspective – give some indication of potential motivations, but have yet to […]
For New Zealand, at a national scale housing policy trends have encouraged market engagement given its high proportion of residential ownership, with social housing provision being more a concern for those in need. This is set alongside greater trend concerns over unaffordable housing for the middle class, as property prices have disproportionally risen against wages […]
Here’s an excerpt from a recent Journal Paper where we see An acceleration in Auckland and Central Otago Lakes since 2013 Median house price trends across regions of New Zealand demonstrate an important skew. Auckland experienced a steady incline from $240,000 NZD in 2000 to $430,000 NZD in 2010, followed by a plateau after the […]
Within a current Machine Learning project we start with a baseline look at how house prices have changed over the last 2 decades. Here we see Auckland’s housing price (as sales) nearly quadruple over 20 years. I’m currently looking at the ‘noise’ towards the end of the time series, that may (or may not) be […]
A Covid-19 Pandemic Retrospective: Activity being generated in the Real-estate Sector over the volatile period during the COVID19 in New Zealand
The graph depicts the year-on-year percentage changes of the amount of economic activity being generated in the Rental, Hiring and Real-estate Sector over the volatile period during the COVID19 crisis and the economic shutdown of the nation. The figure shows a daily chronology of events during this period, as well as the economic impacts detected […]
Great stories piece on State Housing in New Zealand. Only 4% of total stock but has been an essential part of the fabric since 1906. The first ‘worker’s dwellings’ in Petone, that was Wellington region’s first colonial settlements and already home to a fortified Māori village, known as a pa. https://www.nzgeo.com/stories/state-housing/
Editorial for Journal of Property Investment and Finance https://www.emerald.com/insight/content/doi/10.1108/JPIF-02-2020-141/full/html
Interesting house price index from The Economist post GFC
This data visualisation talk is really good Especially the interesting budget visualisation, demonstrating the enormous relative impact of the GFC
Software to help with referencing is a good way to build up and manage your own dataset of articles. Here are a couple of good bibliographic software tools: Endnote https://endnote.com/ Refworks https://www.refworks.com/ Mendeley https://www.mendeley.com/
A really useful starting point in understanding the PropTech field is from the consultancy-university report authored by Andrew Baum at Oxford University https://www.sbs.ox.ac.uk/sites/default/files/2018-07/PropTech3.0.pdf
When using online survey methods, two useful software products are Qualtrics and Survey Monkey. Basic techniques for analysing the findings are also available in the software. See the links here: https://www.qualtrics.com/ https://www.surveymonkey.com/
‘Research’ is a term that covers a multitude of activities, but in one way or another they are all about finding things out. At one level this can mean simply collecting information, so that an evening spent on the internet looking up holiday options is a form of research. But at another level research involves […]
For quantifying and analysing qualitative data I tend to use NVivo. Here’s a link to the software page: https://www.qsrinternational.com/nvivo/nvivo-products
Here’s part of an article I wrote for the main online NZ media outlet stuff.co.nz on housing affordability prior to the 2017 election… Talk of a housing “crisis” tends to focus on an increasing number of people not being able to afford good quality, affordable housing – whether through owner-occupation, private renting or social renting. Affordability […]
In a journal paper we argue that Disruptive Innovation Theory indicates that there is disruptive potential of Real Estate Crowd-Funding (RECF). As an excerpt…”RECF seems to generally align with the classic characteristics of disruptive innovations…RECF may potentially improve accessibility and affordability of real estate finance, thereby helping to address the problem of shortage of real […]
Improving water quality with rural land use policy: (re)balancing farmland regulation, intensification and financial viability
Policymakers in New Zealand are attempting to achieve improved environmental outcomes by implementing an output-based approach to non-point-source pollution from intensive agricultural production. Initial emphasis has focused on the nitrogen leached, with the assumption that this can be calculated accurately on an individual-property basis. While catchment-wide nitrogen-loss levels are […]
Real estate development shapes the way people live and work, playing a crucial role in determining our built environment. Around the world, real estate development reflects both universal human needs and region-specific requirements, and with the rise of globalization there is an […]
How do housing stakeholders align future private and public spending to identify investment opportunities and help meet the City’s broader economic and spatial planning priorities – through the private rented sector?The private rented sector represents a growing proportion of the housing market nationally and locally and the only housing option for many households priced […]
It is worth looking at the impact of community self-build schemes, especially as many have helped ex-service personnel rehabilitate whilst gaining new skills. Promotion of this type of scheme can encourage and inform future projects and to gain political and financial support. Schemes often involve ex-service personnel encountering difficulties in adapting […]
Tax Increment Financing (TIF) as an urban policy for spatially targeted economic development initiatives
Urban policy transfer between the US and UK has long been of interest to researchers and practitioners. Given the recent wider context of reduced direct funding and the absence of a coherent regeneration policy, the introduction of Tax Increment Financing (TIF) to the UK is one approach of stimulating spatially targeted economic development initiatives. Questions are raised […]
In examining the effectiveness of the investment practice known as ‘Socially Responsible Property Investment’ (SRPI), funds and developers make special claims for their regeneration schemes, namely, that they deliver enhanced social benefits. But what in regeneration practice distinguishes SRPI from the actual priorities and behaviours of investors and developers in the sub-sector? Plus what are SRPI regeneration schemes moving […]
I completed a PhD from the University of Manchester (2009), that predominantly focused on exploring the drivers and dynamics associated with what I termed ‘low demand neighbourhoods’ – those areas (particularly those in industrially restructuring cities) that have had high void rates, high population turnover, low value and heavy out-migration. Along side this was a […]
I have been practicing transcendental meditation (TM) for nearly 2 years. It was one of the best decisions I have ever made in improving many aspects of my life. A sense of calm, being centred, postive, focused and prioritising what matters have been a few benefits. After an initial induction […]
Influential books #100 Companion to Real Estate Development Edited by Graham Squires, Erwin Heurkens and Rick Peiser
If you need a companion to understand real estate development this collection is the best around
Influential books #99 International Approaches to Real Estate Development Edited by Graham Squires and Erwin Heurkens
First class collection of real estate development literature, with an international framing.
Best there is if you are interested in procuring and building
And what a book.
Wonderful introduction to economics in the field of property from my old room mate.
Textbook outlining the history and development of urban and regional planning
Arguing the case for housing as needing radical political and economic attention
Good compendium of journal papers looking at affordable housing as the contemporary crisis unfolds
Major textbook on globalisation of the economy in the social sciences.
Spatial application of economic theory using old and new modelling techniques to look at urban and regional phenomena.
Brilliant follow up teaching that progress and growth can come from surrendering to the moment.
Arguing early on that markets are driven by psychological and social factors rather than fundamental values. Especially in later editions that consider housing market bubbles.
Important text from the 20th century that unpicks earlier pure logic work, to identify the complexity of language that form the basis of most philosophical problems
Long running textbook that introduces the basics of urban economic theory and concepts. As well as some economic policy ideas to deal with urban problems.
1860 saw the birth of capitalism in political language. This book explores the period where private enterprise is maintained in a belief of developing economic growth to spur material and moral advancement.
Important stocktake that cities should not necessarily be celebrated given their contradictions, and that these tensions make cities what they are.
Accessible methods textbook that has stood the test of time.
Urban and economic geography, looking at what makes cities grow and decline. Particular focus on urban development from forces that are economic, institutional, innovational/interactional, and political.
Islamic history and more importantly the birth of modern sociology 400 years before Comte.
Largely mathematical underpinning of urban economics principles, that help those new to subject have a clear and precise introduction
Useful economics text on real estate in cities , with examples helping to demonstrate the theory and practice
From the father of utilitarianism this text sets the new legal thinking on societal motivations and intentions
Influential books #78 The Anthropology of Time : Cultural Constructions of Temporal Maps and Images by Alfred Gell
Looking at how societies see time, particularly as an economic ‘resource’ both natural and cultural
Set over four books, this leading text of the enlightenment covers nurture, experience/reflection, language, and the limits of knowledge.
Leading text on real estate investment as an asset class, with international cases that illuminate strategic theory that is used in practice
Postmodern thinking on taxonomies, in that structures are set within the parameters of their own historical epistemological norms such as scientific discourse. Subtitled the ‘Archaeology Of The Human Sciences’.
Influential books #74 Urban Planning and Real Estate Development by John Ratcliffe, Michael Stubbs and Miles Keeping
Now a decade on since the third edition. A really great theory-practice book at the nexus of urban planning and real estate development.
Famous for macroeconomic thinking on the positives of fiscal intervention as counter-cyclical to peaks and troughs in growth.
In erring towards science over faith, this book places an importance on realising the human limits of understanding in physical and mental reasoning.
Useful practical reading on valuation methods
One of the go-to textbooks for commercial and industrial property (real estate) valuations and appraisals.
Rebalancing historical, spatial, and social considerations in the production of space. Further real and imagined dimensions are used to build a new theoretical urban frame.
Beyond the idea of the monarchy making legislative decisions, the social contract progresses to argue an allocation of power by the people.
A thorough body of work exploring poverty from theory to practice as applied to the United Kingdom. Published at a pivotal political turn in 1979.
Popularising the ‘Edge City’ term for growing development of commercial hub activity outside of the urban core.
Compelling historical critique of the neoliberal project of free(er) markets that has dominated contemporary thinking and practice.
Reflective book on travels in South America that strengthened structuralist thinking. The idea that there are underlying universal structures in the human condition.
Text that provides a history of urban planning in addition to some of the social and economic problems that underpin its theory and practice.
Popularising early thought on human behaviour in the neoclassical economics paradigm – diagrams, maths, marginal utilities, and elasticities being embedded as principles.
Book that energised the garden city movement as a utopian desire to live in harmony with nature
Book that attracted new attention post global financial crisis, in that accumulation of non-government debt creates a condition for instability in the economy.
Initial founding writings on the idea of positivism, where observations in science are seen as the most effective approach.
How globalisation of capital has created new governance of the state beyond the nation
Exploring and supporting the movement for more walkable cities given the modern historical influence of the car.
Work post WW2 that promotes the idea of limited government involvement, to enable universal market efficiency, and thus liberalism in the sense of individual freedoms.
A touchstone for political theory of distributive justice, looking normatively to rebalance equality of opportunity and helping the more disadvantaged in society.
A political economy look at owner-occupation at the turn of the 21st century
Recent accessible and interesting overview on why cities are enriching places for people
Origins of spatial economics where the price willing to rent land is spatially and locationally determined
A focus on realism in methods that helped popularise more rigorous empirical and theoretical research
Moving forward philosophies on the nature of reality by developing thought on both rationalism and empiricism, and in doing so synthesising separations of reason and human experience.
One of the first to crystallise thinking of city economies working as hierarchies in a global system
How a Eurocentric romantic view of the ‘east’ has served to perpetuate dominance and power
A book that exerts post-modern urban planning as one that includes diversity, community and environment.
Classical economic thinking that brought to prominence the benefits of free trade via comparative advantage, and an articulation of how population growth increases economic rent
WW2 reminder that excessive central planning can risk losing individual freedoms.
17th Century writing on social contract, where power is handed to an absolute sovereign in return for some form of protection.
Marxist geography analysis of why spatial inequalities persist via the production process
A focus on UK Housing directions to encourage a long look at wealth and inequality, rather than simply building more homes
The central text of Marxian economics, a critique of capitalism from a perspective of the production process. Marx was a self proclaimed non-Marxist.
Inspirational biography on his snooker career and how he came back to win the masters
The main architect behind one of the most influential modern philosophies of our time, in interview this gives a good primer into understanding its emergence, what it is, and where it is heading.
Proponent of sociology as a positivist science, encouraging a school of structural-functionalism thinking, whilst encouraging thought on a collective rather than individual basis – e.g. a ‘collective consciousness’
Modern America needed to be measured to become wealthy. Interesting alternative focus on how this big land sale happened.
Bringing economic theory closer to the reality of societies biggest concerns, and setting the benchmark for scholarly work over the next two centuries.
Intensely detailed outline of the history and evolution of housing policy that has shaped US housing sector.
Readable and robust account of the cause and effect of debt tied up in housing
Laying the foundations in thinking that costs external to the market can be dealt with by better defined property rights