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The impact of planning delays and other holding costs on housing affordability

Garner, Gary O. (2008) The impact of planning delays and other holding costs on housing affordability. Queensland Planner, 48(4), pp. 21-27.

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Abstract

Housing affordability is gaining increasing prominence in the Australian socio-economic landscape, despite strong economic growth and prosperity. It is a major consideration for any new development. However, it is multi-dimensional, has many facets, is complex and interwoven. One factor widely held to impact housing affordability is holding costs. Although it is only one contributor, the nature and extent of its impact requires clarification. It is certainly more multifarious than simple calculation of the interest or opportunity cost of land holding. For example, preliminary analysis suggests that even small shifts in the regulatory assessment period can significantly affect housing affordability. Other costs associated with “holding” also impact housing affordability, however these costs cannot always be easily identified. Nevertheless it can be said that ultimately the real impact is felt by those whom can least afford it - new home buyers whom can be relatively easily pushed into the realms of un-affordability.

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ID Code: 19588
Item Type: Journal Article
Additional Information: This paper was first submitted to the "Looking Forward Outback" PIA Queensland State Conmference 17-19 September 2008 as a referred paper
Additional URLs:
Keywords: holding cost, housing affordability, planning, opportunity cost, assessment period
ISSN: 1326-3374
Subjects: Australian and New Zealand Standard Research Classification > STUDIES IN HUMAN SOCIETY (160000) > HUMAN GEOGRAPHY (160400) > Urban and Regional Studies (excl. Planning) (160404)
Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Housing Markets Development Management (120503)
Australian and New Zealand Standard Research Classification > MATHEMATICAL SCIENCES (010000) > APPLIED MATHEMATICS (010200) > Financial Mathematics (010205)
Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Urban and Regional Planning not elsewhere classified (120599)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Copyright Owner: Copyright 2008 Gary O. Garner
Deposited On: 16 Apr 2009 11:07
Last Modified: 09 Jun 2010 23:35

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