The dynamic relationship between social structure and property values in an established housing market

Reed, Richard Graeme. (2003). The dynamic relationship between social structure and property values in an established housing market PhD Thesis, School of Geography, Planning and Architecture, The University of Queensland.

       
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Author Reed, Richard Graeme.
Thesis Title The dynamic relationship between social structure and property values in an established housing market
School, Centre or Institute School of Geography, Planning and Architecture
Institution The University of Queensland
Publication date 2003
Thesis type PhD Thesis
Supervisor Smith, Phil
Skinner, Jim
Total pages 356
Collection year 2003
Language eng
Subjects L
310103 Urban and Regional Planning
680101 Housing
Formatted abstract
Investment in housing represents the largest single source of wealth for individuals and has an important role in the macro economy. Traditional economic indicators cannot always observe the degree of purchaser and vendor willingness to transfer residential property, and therefore consideration should also be given to characteristics of buyers and sellers in the marketplace. This thesis draws the disciplines of housing research and demography closer. It looks to social indicators for an insight into residential housing markets, and seeks to identify a means of measuring this association.

This research analyses changes in the value of established residential house prices in Brisbane, Australia and the influence of variations in social structure over an extended time frame. It is primarily concerned with three important cross-sectional variables: location, time and demographic characteristics. Values for established residential housing in Brisbane are analysed from 1976 to 1996. Demographic variables from five censuses conducted during this period are included in the analysis. A conceptual model based on 'Social Area Analysis' is proposed using Principal Component Analysis and Multiple Regression Analysis to assess the relationship with established residential house values.

The results confirmed the existence of strong linkages between social constructs and established house prices. Clearly the Socio-economic Status has always been associated with higher priced suburbs, and this relationship has strengthened considerably. The importance of age constructs in relation to house values was also acknowledged and can be broken down even further into various age categories. The presence of the older generation also increased over the time frame. This research confirmed that consideration should be given to social factors and demographic variables in the analysis of residential housing markets, as these factors provide an insight into the perception of a suburb, and consequently the level of property values.
Keyword Residential real estate -- Queensland -- Brisbane
Valuation -- Queensland -- Brisbane
Brisbane (Qld.) -- Social conditions

Document type: Thesis
Collection: UQ Theses (RHD) - UQ staff and students only
 
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Created: Fri, 24 Aug 2007, 18:05:34 EST