The demand for new housing in Queensland

Burke, B. N. (1981). The demand for new housing in Queensland Master's Thesis, Dept. of Economics, The University of Queensland.

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Author Burke, B. N.
Thesis Title The demand for new housing in Queensland
School, Centre or Institute Dept. of Economics
Institution The University of Queensland
Publication date 1981-01-01
Thesis type Master's Thesis
Total pages 83
Language eng
Subjects 14 Economics
Formatted abstract
Purpose of Thesis

The purpose of this thesis is to provide an econometric analysis of the economic relationships that exist between the determinants of demand for new houses in the context of the Queensland Building Industry. Demand variables have not featured prominently in models designed to explain the housing industry and part of the aims of this thesis is to increase the knowledge of factors influencing the determinants of demand.

This thesis aims at constructing a profile of the Housing Industry in Queensland and suggests that the application of structural equations for the total Australian Demand may not be justified for the Queensland case. The results seem to emphasize the need for a regional approach to the study of the Australian Housing Industry.

There are a number of conclusions that can be drawn from this study but briefly the analysis seems to suggest that proxy variables can be successfully used to overcome data problems created by an incomplete series or where changes in definition have created inconsistencies in a series. The analysis uses dynamic linear least square regression equations which are directed at important economic relationships that are hypothesised to determine the demand for new houses. It suggests that the simultaneous equation bias is only present to a minor degree in the demand equation using Ordinary Least Squares. The study suggests that marriages are a significant determinant of the demand for housing with the income variable also contributing to the level of demand. The results also suggest that price in real or value terms may not be as a significant variable in determining demand as the capacity to repay the repayment amount on borrowed funds. Lagged effects were also investigated and these were also found to be a contributing factor in determining demand for new housing.

Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
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Created: Sat, 20 Nov 2010, 00:57:43 EST by Ning Jing on behalf of The University of Queensland Library