The global financial crisis and the Australian and New Zealand housing markets

Murphy, Laurence

doi:10.1007/s10901-011-9226-9

Cited by 63 publications

(49 citation statements)

References 26 publications

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“…Some significant banks and other financial institutions collapsed, while others in Ireland, Spain, the United Kingdom and the United States were nationalised or placed under state administration. Yet others in those countries and in Australia and New Zealand continued with the support of government guarantees over wholesale funding, central bank loans and government purchases of assets, including new mortgage bonds (Blyth 2014;Murphy 2011). …”

Section: Credit Settings Pre-gfcmentioning

confidence: 99%

The changing institutions of private rental housing: an international review

Martin¹,

Hulse²,

Pawson³

2018

AHURI Final Report

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Related reports and documents AHURIAHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre.AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community.AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing.

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Section: Credit Settings Pre-gfcmentioning

confidence: 99%

The changing institutions of private rental housing: an international review

Martin¹,

Hulse²,

Pawson³

2018

AHURI Final Report

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“…To illustrate, institutional approaches have revealed the effect of a country's housebuilding industry on the quantity and quality of housing in the country (Ball, 2003), how new regulations were tempered by actors despite perceptions of overregulation (Hamzah & Wan Abd. Aziz, 2013), why some housing markets remained largely unaffected by the Subprime Crisis of 2008 (Murphy, 2011) and understanding how some landlords display counter-intuitive non-pecuniary motives in their renting and development decisions (Satsangi, 2005). These selected examples reflect how the complexities of the market may be unpacked and examined against well-developed sets of principles and supported by a vast amount of available literature.…”

Section: An Overview Of Institutionalism In Property Studiesmentioning

confidence: 99%

“…The SOP provides a highly practical framework to examine various housing phenomena as evidenced by a multitude of works (see for instance Burke & Hulse, 2010;Hamzah, 2012;Hamzah & Wan Abd. Aziz, 2013;Murphy, 2011;Satsangi, 2005Satsangi, , 2011Satsangi & Dunmore, 2003). As recommended by Ball, a researcher may decide to focus on examining one, a combination, or all of three SOP dimensions i.e.…”

Section: Conceptual Framework Of This Papermentioning

confidence: 99%

Local Building Regulators’ Institutionalised Behaviour Towards Mass Customised Housing (MCH)

Hamzah

Mislam

2017

IJPS

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Mass Customised Housing (MCH) is an innovation in house production that could potentially transform developers' business models due to its buyer-friendly template by offering customised houses that can fulfil part or most of buyer's housing requirements at reasonable prices, thus securing customer loyalty and market share in the long run. Thus far, the body of literature on MCH only focuses either on the technical or the financial side of MCH implementation, with a discernible lacuna in the regulatory response. A broad institutional approach frames this study whereby a questionnaire survey with close and open ended questions was conducted on local building regulators to examine their attitude towards MCH and to explore potential issues pertaining to MCH implementation. A total of 133 questionnaires were sent to building regulators in Peninsular Malaysia, with a response rate of 28.6%. Quantitative data was analysed to yield descriptive statistics whilst qualitative data was analysed based on thematic analysis. Quantitative results showed a strong positive acceptance of MCH within the current regulatory environment, yet qualitative findings revealed respondents' concerns about stakeholders' disconnect, MCH's compatibility with the current system and development actors' actual motivations. Findings give an insight into the attitude of local building regulators in balancing their statutory roles with furthering developers' economic objectives and house buyers' social objectives.

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“…The GFC started because of a threat of melting down the subprime mortgage market in the USA (Murphy 2011). This consequently triggered a collapse of confidence in credit markets around the globe (Chesters 2010).…”

Section: Introductionmentioning

confidence: 99%

“…providing stimulus package directly to the low income families, generous first home owner grants that reinflated the housing-finance system) (Kendig et al 2013;Redmond et al 2013). Even though the initial impact of the GFC was much weaker in Australia, it was not totally isolated, since unemployment rose, investment and superannuation returns fell, retired Australians were less satisfied with their financial position, employed people were becoming concerned about job security, and a long boom in housing prices had stalled (Chesters 2010;Mountford 2011;Murphy 2011;Bittman and Bradbury 2012). However, these outcomes are less pronounced for people who experienced a loss in investment because they may have generally higher incomes, and the association of change in income with change in behaviour is much weaker at high incomes (e.g.…”

Section: Introductionmentioning

confidence: 99%

Australian baby boomers switched to more environment friendly modes of transport during the global financial crisis

Kamruzzaman

Yiğitcanlar

Washington

et al. 2014

Int. J. Environ. Sci. Technol.

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The global financial crisis (GFC) in 2008 rocked economies around the world. Several intermediate outcomes of the GFC included loss of jobs and reduced income. Relatively little research has, however, examined the impacts of the GFC on individual level travel behaviour change. To address this shortcoming, HABITAT panel data were employed to estimate a multinomial logit model to examine mode switching behaviour between 2007 and 2009 of a baby boomers cohort in Brisbane, Australia-a city within a developed country that has been on many metrics the least affected by the GFC. In addition, a Poisson regression model was estimated to model the number of trips made by individuals in 2007, 2008, and 2009. The South East Queensland travel survey datasets were used to develop this model. Four linear regression models were estimated to assess the effects of the GFC on time allocated to travel during a day: one for each of the three travel modes including public transport, active transport, less environmentally friendly transport; and an overall travel time model irrespective of mode. The results reveal that the baby boomers switched to more environmentally friendly travel modes during the GFC.

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The global financial crisis and the Australian and New Zealand housing markets

Cited by 63 publications

References 26 publications

The changing institutions of private rental housing: an international review

The changing institutions of private rental housing: an international review

Local Building Regulators’ Institutionalised Behaviour Towards Mass Customised Housing (MCH)

Australian baby boomers switched to more environment friendly modes of transport during the global financial crisis

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