?url_ver=Z39.88-2004&rft_id=10.31219%2Fosf.io%2Fzkt7v&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=We+zoned+for+density+and+got+higher+house+prices%3A+Supply+and+price+effects+of+upzoning+over+20+years&rft.creator=Limb%2C+Mark&rft.creator=Murray%2C+Cameron&rft.description=Does+planning+for+higher+density+increase+housing+development+and+decrease+housing+prices%3F+We+study+the+outcomes+of+planning+for+density+in+established+suburbs+over+a+twenty-year+period+using+a+large+site-level+dataset+on+dwelling+stock%2C+planning+regulations%2C+and+prices%2C+in+19+planned+densification+areas+(activity+centres)+comprising+25%2C775+sites+in+Brisbane%2C+Australia.+Planning+rules+in+these+areas+were+repeatedly+relaxed+to+allow+for+higher+density%3B+a+policy+change+that+should+have+observable+price+effects.+To+study+the+effect+of+zoning%2C+we+create+a+variable+for+each+site+called+zoned+capacity%2C+which+is+the+estimated+number+of+additional+dwellings+able+to+be+built+under+the+planning+code.+Only+2%25+of+the+zoned+capacity+was+taken+up+in+any+given-year+study+interval.+Zoned+capacity+doubled+over+the+whole+twenty-year+study+period+(going+from+0.9x+total+dwellings+to+1.4x)%2C+however+despite+these+changes%2C+78%25+of+sites+with+zoned+capacity+in+the+first+period+remained+undeveloped.+Higher+rates+of+new+housing+supply+are+robustly+related+to+higher+prices+despite+demand+arguably+seeing+a+similar+increase+across+locations.+Our+zoned+capacity+variable+has+no+relationship+to+price+across+numerous+regression+models+and+is+robust+to+various+data+selection+choices.+It+could+be+that+planning+is+not+a+binding+constraint+on+new+housing+in+Brisbane%E2%80%94yet+price+growth+over+our+study+period+is+comparable+to+other+Australian+cities.+This+evidence+suggests+that+private+housing+markets+will+not+rapidly+supply+new+housing+and+cause+significant+price+reductions%2C+even+if+the+planning+system+allows+it.&rft.publisher=Open+Science+Foundation+(OSF)&rft.date=2021-02-16&rft.type=Working+Paper&rft.relation=https%3A%2F%2Fosf.io%2Fzkt7v%2F&rft.relation=doi%3A10.31219%2Fosf.io%2Fzkt7v&rft.relation=Limb%2C+Mark+%26+Murray%2C+Cameron+(2021)+We+zoned+for+density+and+got+higher+house+prices%3A+Supply+and+price+effects+of+upzoning+over+20+years.+Open+Science+Foundation+(OSF).+%5BWorking+Paper%5D&rft.id_number=https%3A%2F%2Feprints.qut.edu.au%2F209104%2F&rft.rights=Consult+author(s)+regarding+copyright+matters&rft.rights=This+work+is+covered+by+copyright.+Unless+the+document+is+being+made+available+under+a+Creative+Commons+Licence%2C+you+must+assume+that+re-use+is+limited+to+personal+use+and+that+permission+from+the+copyright+owner+must+be+obtained+for+all+other+uses.+If+the+document+is+available+under+a+Creative+Commons+License+(or+other+specified+license)+then+refer+to+the+Licence+for+details+of+permitted+re-use.+It+is+a+condition+of+access+that+users+recognise+and+abide+by+the+legal+requirements+associated+with+these+rights.+If+you+believe+that+this+work+infringes+copyright+please+provide+details+by+email+to+qut.copyright%40qut.edu.au&rft.identifier=Faculty+of+Engineering%3B+School+of+Architecture+%26+Built+Environment