The impact of government land supply on housing starts

Siqi, S; Ge, J

The impact of government land supply on housing starts

Siqi, S Ge, J

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Publisher:: Pacific Rim Real Estate Society (PRRES)
Publication Type:: Conference Proceeding
Citation:: Proceedings from the PRRES conference, 2013, pp. 1 - 18
Issue Date:: 2013-01

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Field	Value	Language
dc.contributor.author	Siqi, S	en_US
dc.contributor.author	Ge, J https://orcid.org/0000-0002-2252-7829	en_US
dc.contributor.editor	-	en_US
dc.date	2013-01-13	en_US
dc.date.issued	2013-01	en_US
dc.identifier.citation	Proceedings from the PRRES conference, 2013, pp. 1 - 18	en_US
dc.identifier.uri	http://hdl.handle.net/10453/26387
dc.description.abstract	This paper investigates the impact of government land supply on new residential construction. By estimating a housing supply equation using a panel data set covering 35 major Chinese cities for the period of 1999 to 2010, it is found that the quantity of the land sold by the government is tightly associated with the number of housing starts. Two -or three - year lag of land sales has a larger impact on new construction than one- year lag , which is consistent with the fact that there is normally a two- to three-year interval between the date of land transaction and the date when construction is initiated. It is also found that the decrease in land sales accounts for a large proportion of the decrease in new construction in Beijing, Shanghai and Shenzhen. The estimates of city -specific supply elasticities are provided based on the housing supply model, it is found that housing price appreciation tends to be more considerable in cities with inelastic supply.	en_US
dc.publisher	Pacific Rim Real Estate Society (PRRES)	en_US
dc.relation.ispartof	Proceedings from the PRRES conference	en_US
dc.relation.ispartof	Pacific Rim Real Estate Conference	en_US
dc.title	The impact of government land supply on housing starts	en_US
dc.type	Conference Proceeding
utslib.location	Melbourne	en_US
utslib.location.activity	Melbourne, Australia	en_US
utslib.for	120503 Housing Markets, Development, Management	en_US
dc.location.activity	Melbourne, Australia	en_US
dc.location.activity	Boca Raton, FL, USA
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.finish-date	2013-01-16	en_US
pubs.place-of-publication	Melbourne	en_US
pubs.start-date	2013-01-13	en_US

Abstract:

This paper investigates the impact of government land supply on new residential construction. By estimating a housing supply equation using a panel data set covering 35 major Chinese cities for the period of 1999 to 2010, it is found that the quantity of the land sold by the government is tightly associated with the number of housing starts. Two -or three - year lag of land sales has a larger impact on new construction than one- year lag , which is consistent with the fact that there is normally a two- to three-year interval between the date of land transaction and the date when construction is initiated. It is also found that the decrease in land sales accounts for a large proportion of the decrease in new construction in Beijing, Shanghai and Shenzhen. The estimates of city -specific supply elasticities are provided based on the housing supply model, it is found that housing price appreciation tends to be more considerable in cities with inelastic supply.

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http://hdl.handle.net/10453/26387