Why the decline in new residential building activity?

Karantonis, AC

Why the decline in new residential building activity?

Karantonis, AC

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Publisher:: University of South Australia
Publication Type:: Conference Proceeding
Citation:: 34th AUBEA Annual Conference Proceedings, 2009, pp. 1 - 15
Issue Date:: 2009-01

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Field	Value	Language
dc.contributor.author	Karantonis, AC	en_US
dc.contributor.editor	Zilante, DG	en_US
dc.date	2009-07-07	en_US
dc.date.issued	2009-01	en_US
dc.identifier.citation	34th AUBEA Annual Conference Proceedings, 2009, pp. 1 - 15	en_US
dc.identifier.uri	http://hdl.handle.net/10453/12046
dc.description.abstract	The phenomenon of cycles with peaks and troughs is a normal feature of a market economy and despite similar phases, each specific cycle varies in duration and intensity. In the decade to 2003 - 4 in Australia, housing prices have had a sustained growth in most capital cities but the supply of new dwellings has a downward sloping trendline. At the same time there has been a steady increase in population underlying the need for more dwellings. So why is there a decline in new residential building activity? This paper undertakes an empirical study to investigate the factors that influence the residential building cycle and how they applied to the Sydney residential market over the past 25 years. The results show that whilst real price and GDP have some influence in the fluctuation of building approvals, it is the costs of development, in particular GST and BASIX which have influenced the downward movement of residential building activity over the past few years.	en_US
dc.publisher	University of South Australia	en_US
dc.relation.ispartof	34th AUBEA Annual Conference Proceedings	en_US
dc.relation.ispartof	Australian Universities Building Education Association Annual Conference	en_US
dc.title	Why the decline in new residential building activity?	en_US
dc.type	Conference Proceeding
utslib.location	South Australia	en_US
utslib.location.activity	Barossa Valley South Australia	en_US
utslib.for	120201 Building Construction Management and Project Planning	en_US
dc.location.activity	Barossa Valley South Australia	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	open_access
pubs.consider-herdc	true	en_US
pubs.place-of-publication	South Australia	en_US
pubs.start-date	2009-07-07	en_US

Abstract:

The phenomenon of cycles with peaks and troughs is a normal feature of a market economy and despite similar phases, each specific cycle varies in duration and intensity. In the decade to 2003 - 4 in Australia, housing prices have had a sustained growth in most capital cities but the supply of new dwellings has a downward sloping trendline. At the same time there has been a steady increase in population underlying the need for more dwellings. So why is there a decline in new residential building activity? This paper undertakes an empirical study to investigate the factors that influence the residential building cycle and how they applied to the Sydney residential market over the past 25 years. The results show that whilst real price and GDP have some influence in the fluctuation of building approvals, it is the costs of development, in particular GST and BASIX which have influenced the downward movement of residential building activity over the past few years.

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http://hdl.handle.net/10453/12046