The impact of property title type on residential property returns

Eves, Chris (2008) The impact of property title type on residential property returns. In Proceedings from the PRRES Conference - 2008, Pacific Rim Real Estate Society (PRRES), Kuala Lumpur, Malaysia.

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Residential property in New Zealand comprises both freestanding residential properties and medium to high density residential properties. Medium to high density residential property comprises the typical units, townhouses and semi-detached houses common in most residential property markets. However, in many of the larger cities of New Zealand the free standing residential property market has evolved into two separate markets being freehold residential property and cross lease residential property.

Cross leases have developed as a form of infill housing to reduce the urban sprawl in major canters, while reducing the time and cost for residential property developers. A cross lease is created when an existing freestanding residential property subdivides a portion of the existing land for the erection of another house on the original title, basically dividing one larger residential section into two smaller residential blocks.

This paper will analyse house prices in Christchurch over the period 1992 to 2006 to determine if the various housing markets have shown similar capital returns or if there is a specific preference for a particular residential property title.

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ID Code: 28495
Item Type: Conference Paper
Refereed: Yes
Additional Information: An open access copy of this paper can be accessed from the publisher's website. See Official URL above.
Keywords: land title, residential property, property returns, capital gain, property investment
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Past > Schools > School of Urban Development
Copyright Owner: Copyright 2008 [please consult the author].
Deposited On: 10 Nov 2009 02:50
Last Modified: 09 Jun 2010 14:08

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