literature review on residential property

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Literature review on residential property order ecology blog

Literature review on residential property


A national crisis There's No place like home Every person facing homelessness has ended up there for different reasons, however the lack of help, support and sympathy they get from our government is shameful. Despite rough sleeping being the most visible sign of homelessness, figures based on people living in temporary accommodation with no idea of their future is far more shocking.

Over the past seven years. When a country is awarded the Olympic Games,the government needs to take issue of the accommodation into consideration. To solve the surge in the amount of tourists, increasingly accommodations are set up compulsively. However,there is still a remainder of demand contributing to the price of accommodation rise. Tessa Jowell , Member of Parliament of Unite kingdom,pointed out that the price of accommodation in London. The average of homeless women is lower than men and most of this is under 25years of age.

Women are more likely to get married and have children and maintained their family contact but. Whether you are recently separated and sharing care of your children, using the space to recover from illness or a disabled person in an adapted home. Literature Review - Accommodation Crisis in UK Soaring prices of residential property in UK Over the passage of time the value of residential property has increased around the globe and the UK is no exception to this. All classes have become victim to this new wave of soaring residential property prices across the UK.

This new wave has pushed the poorest from a post to the pillar and started the accommodation crisis in the UK. According to one survey held by Nationwide, only in March the property prices in the UK have hiked by 0. Now, less people own the residential property and more are opting either for mortgaged property or property for rent. However, it seems as a great opportunity for residential property owners as the …show more content… Property Wire, Change in residential property market The property researchers over the time have been releasing certain reports and surveys addressing the problems faced by the residential property owners and the gradual increase in the residential property prices.

The recent reports released by property researchers shows a drastic change in figures and how rapidly the residential property is changing Property Wire, Current residential market in the UK is under the dark cloud of hardships and the current situation is no different than the one prevailing when Elizabeth II came into power in The housing price in the UK since then has increased by more than percent over and as a result the accommodation crisis has increased greatly in the UK especially in London.

Property Wires, Over the past decades, we have observed great changing in the housing market of UK. Over the period of time the demands and requirements regarding housing have also changed, in short, the housing property has part become a necessity, part luxury and investment. Get Access. MA literature review - social housing and property values. Upcoming SlideShare. Like this document? Why not share! Embed Size px. Start on.

Show related SlideShares at end. WordPress Shortcode. Like Liked. Vanessa Roccisano. Full Name Comment goes here. Are you sure you want to Yes No. Be the first to like this. No Downloads. Views Total views. Actions Shares. No notes for slide. MA literature review - social housing and property values 1. Mission Australia Housing MAH provides social and affordable housing to individuals who are low and moderate income earners.

We aim to work alongside residents to create sustainable neighbourhoods and to enhance the quality of life for all community members. This report specifically examines the research literature around the impact of social housing on the surrounding property values in a residential neighbourhood. Our review of the literature found that there is no consensus internationally that social housing has a consistent or significant positive or negative impact on surrounding property values.

Much of the literature supported the finding that the presence or scale of social housing in a neighbourhood had less of an impact on surrounding property values than factors associated with the development, management and planning which takes place alongside the physical building project. Recent Australian studies have found that social housing has no appreciable positive or negative impact on surrounding property values and that the scale of a social housing development was not associated with surrounding property values.

These strategies should be responsive to current neighbourhood amenities, access and buildings and should work closely with residents and local councils to ensure that the community understands and accepts the new development and has a say in how the development impacts on their neighbourhood.

The literature also highlighted that the neighbourhood context performs a strong role in determining the best approach to be taken when introducing a new development which includes social housing. Where social housing is introduced into an at-risk, low income area with poor infrastructure, proactive renewal programs should be incorporated into both small and large-scale developments to increase the likelihood of a rise in surrounding property values.

In addition to this, factors such as crime, traffic, proximity to quality schools and the condition of surrounding properties should be considered when determining the relative impact of social housing on property values in each location.

Exploration of these factors will be highly localised and contextual and should take place during any early scoping of prospective locations for new social housing developments. Introduction Mission Australia seeks to understand the impact of social housing on neighbouring property values within a broader view of improving social housing and its services to the community. Mission Australia will use this report in its discussions on social housing with partners such as developers.

The findings of this report are drawn from a literature review on peer reviewed articles. The literature on this issue identifies that, where neighbourhoods include social housing, the property values of the surrounding homes are not solely influenced by the presence of social housing, rather that broader contributing factors make a more significant contribution.

These factors, and the implications of addressing these to positively impact on property value, will be outlined in this report. A contextual understanding of these factors will be important for community housing providers, developers and communities when planning new developments. This literature review is comprised of three sections. Definitions In this report, social housing and affordable housing are both referred to and it is important to note the difference between the two.

Although they are different to each other, evidence on both types is informative to the research question because both are types of housing sold at below-market prices. The proximal area defined within each study may differ but has been defined where relevant in each case.

Contextual conditions of social housing The surveyed literature confirms that there is no absolute answer to whether the presence of social housing in a neighbourhood depresses surrounding property values. In fact, newly developed social housing has the potential to positively impact on price level and growth in its neighbourhood under certain conditions Bramley, et al.

This study found that the impact of social housing on property sales values was minimal compared to the impact of more general housing and locational characteristics Davidson, et al. Where clear positive effects on property values do occur, these can be attributed to positive environmental effects due to removal or replacement of abandoned vacant lots or through neighbourhood revitalisation projects Ellen, One US-based study found that in New York, large-scale subsidised housing developments may act as a catalyst in revitalising urban neighbourhoods in-part though the flow-on effects of increased property values Schwartz, et al.

This study found that housing investment made by New York City through new subsidised housing builds was able to deliver a tax benefit to the city in excess of the cost of provided subsidies in addition to the increase in surrounding property values for neighbourhood residents.

Importantly, it was also found that large, multi-unit developments generated a greater effect on surrounding property values in more disadvantaged neighbourhoods whereas smaller developments has a lesser impact when spread throughout similarly disadvantaged regions Schwartz, et al. It is likely that larger-scale developments create such an impact due to the effect of necessary renewal in the surrounding area access roads, parking, landscaping while smaller developments do not require the same amount of change or improvement.

A recent Australian study found that where social housing is developed in an area close to services, public transport, general infrastructure and amenities such as parks or water frontage, such a development is unlikely to impact in any noticeable way on surrounding property value Davidson, et al. The visual appearance of renewal estates is an important aspect of renewal development. This includes upgrading to roads, landscaping, parks and other physical and environmental facilities of the renewed areas Randolph, Upgrading a neighbourhood with new social housing is likely to enhance the community and attract people to the area to live or invest.

An example of this is the brownfield residential development in the UK. Nguyen reported on studies by Galster, Tatian, and Smith of the effect of subsidized housing on property values. The findings found that there was a positive association on housing value when there were low numbers of subsidized households in the neighbourhood.

The threshold number has not been explicitly identified in research, although it would be dependent on the community and its existing economic value Ahrentzen, Despite these findings from the US, recent Australian research has found no correlation between the size of a social housing project and the impact on property sales values in the surrounding area Davidson, et al.

Where this region consists of connected and supported residents, good public infrastructure and higher market value properties, embedding social housing properties will likely have no effect on the value of surrounding properties. However, embedding small-scale social housing properties within neighbourhoods with poor public infrastructure, many lower income households, little or poor building design and poor management of the new social housing buildings, surrounding property values are more likely to be negatively impacted Nguyen, However, it must be noted here that, as previously cited, large-scale social housing developments which are well-designed and managed and which incorporate urban renewal strategies particularly in collaboration with local residents can positively impact on surrounding property values even in lower income, more dilapidated neighbourhoods Schwartz, et al.

Effective urban renewal programs target the physical and social environments to improve the social capital, social connectedness, sense of community and economic conditions of residents of the neighbourhoods. As a result of such initiatives, residents are more likely to report improvements to safety and wellbeing e. Urban renewal programs in social housing neighbourhoods can be an effective way to mediate the impact on surrounding property values and should be incorporated into any social housing development, particularly in more at-risk neighbourhoods.

Good property and tenancy management more often coincides with properties developed by not-for-profit community organisations than it does by for-profit developers Ahrentzen, This may occur because not-for-profit housing organisations are more attentive to designing affordable housing that suits the neighbourhood it is developed in, such as matching size, scale, design and amenities.

Not-for-profit organisations also generally spend more resources developing benefits for the broader community needs than for-profit counterparts Agnew, ; Ahrentzen, Subsidised housing built in a lower value market also represents an ambiguous case. Case Studies Various studies of the effects of below-market social or affordable housing development on surrounding property values have been conducted, using a range of models, especially in the USA.

This report uses these case studies to demonstrate how social or affordable housing has influenced surrounding property values in practice. This research used this technique to test whether proximity to affordable housing has an influence on property sales values.

It was found that, at intervals of , and metres away from the affordable housing developments, proximity had positive impacts on property sales values. In other words, the closer a property was to an affordable housing development, the higher its sales value was, compared to other properties of similar characteristics number of bedrooms, number of bathrooms etc.

The author concluded that proximity to affordable housing developments may have positive, although minimal, impacts on sales values of properties located up to metres away from those developments. This case study suggests that affordable property can have positive impact on sales prices if it is dispersed across the neighbourhood. Political opposition was intense and incited certain sections of the community into stronger, more public opposition. Across Parramatta, interview-surveys were completed.

Results from these interviews reveal the impact that local politicians and local media can have in raising opposition and legitimising disapproval for social housing development in a community. In this case, political motivation may have been due to political positioning rather than opposition to the social housing development as part of planning policy.

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This increased property value may lead to the displacement of those who originally inhabited the neighborhood because they are not able to keep up with the new market rate prices. While long-time residents feel exploited, the perspective of the local government is that these developments will help the economy of the neighborhood. The articles mentioned are important for having a complete understanding of what is occurring in Chinatown. To understand if residents feel the impacts of zoning in ways of gentrification, it is significant to understand what zoning is, the original intent of zoning, if Chinatown residents were involved in the decision, and why and how it is affecting them.

In the future of Chinatown was silently being decided by the Bloomberg administration through different zoning laws. According to Li, the majority of residents did not know such a plan was taking place and for those who attempted to take part were turned away, or were not given adequate materials to understand the situation such as translators. Special parks are defined as national, state, and regional parks, arboretums, nature centers, natural areas, and wildlife refuges, in order to differentiate them from neighborhood parks, which are generally more urbanized and provide fewer recreational opportunities and natural amenities Furthermore, their hedonic analysis differs significantly from Nicholls in that it allows the effects of proximity to depend a completely different set of variables, including population density, income, crime, age of the population, and distance to the central business district.

In addition, they control for neighborhood characteristics and potential omitted spatial variables using local fixed effects. The most significant from the analysis were in relation to population density, distance to CBD, income, and crime rates. On a broader scale, Anderson and West find that urban residents in more densely populated neighborhoods located near the CBD place a higher value on the proximity to green space than suburban residents located further away from the CBD and in less densely populated areas: in neighborhoods that are twice as dense on average, the amenity value of proximity to neighborhood parks is nearly three times higher than average, while the amenity value of special parks is two-thirds higher Consequently, conclusions from studies analyzing city preferences should not be used to draw implications for suburban planning.

Additional results from the Anderson and West analysis highlight the effect of income on green space and home values. In neighborhoods that are twice as wealthy on average, the amenity value of neighborhood parks is more than four times higher than average, while the amenity value of special parks is more than two times higher Crime rates also proved to be a significant factor impacting green space values, in fact the amenity value of proximity to neighborhood and special parks rises with crime rates, so it appears that both types of parks act as buffers against the negative effects of crime Although conclusions based on the other previously mentioned variables were also realized from this study, they were not as significant as the four discussed above.

While the findings of Nicholls and Anderson and West focus on distinctly different green space areas one being more urban than the other , they both provide quantitative measures to unravel the many factors impacting the proximate principle established by Crompton As the decentralization of cities continues throughout the 21 st century and cities keep growing at their peripheries, the tradeoff between developing and preserving green space becomes an increasingly important debate.

Understanding the impact that green space has on property value will not only help regional developers and government officials make better decisions regarding the provision, design, zoning, and use of these public goods, but also help the creation and development of better homes and more desirable communities. Anderson, Soren T. Crompton, John L. Nicholls, Sarah. Tags: green spaces , Property Values. This was an informative read on an important topic, great job! The paper seems very comprehensive and addresses most of the questions that a reader might have.

While I was reading through the paper, the first thought that came to mind was how the value of green space must be tied to the features of the adjacent area. For example Central Park in New York, which you touched upon, might provide much more value than another park in North Carolina.

You delve into this subject when you talk about how an increase in population density is also correlated with an increase in the value of green space. For example is green space a premium good? Does it have a greater effect on the wealthy? Also is there diminishing utility to the amount of green space in an area? This goes back to my earlier thought that Central Park must have a lot more value than just another park in North Carolina.

Not only is Central Park in a much more population dense area, but there also is less greenery in New York City than there is in most parts of North Carolina. Super interesting take on impact of green areas on property value. I always lumped the intrinsic value of greenery into the value of the city and assumed that people were more worried about how much nature was around them as a whole rather than in close proximity to them — Seattle area with lots of trees and mountains compared to a Chicago or Los Angeles that is more focused on the buildings.

Along these lines of thinking, I would want to look at whether the effect of green spaces varies by city since in an area like Seattle where there is green everywhere, I am not going to be willing to pay a premium to move a park area yards closer, especially since there are probably multiple parks in my neighborhood already. But, if I am in Chicago that distance might actually mean a lot more to me due to the lack of greenery around me in general.

Also looking at how much people value green spaces compared to the general mindset of the city could be something to explore. Once again in Seattle, and the Pacific Northwest as a whole, the mindset of the city is very focused on nature and environmental protection, whereas Chicago is more industrial and focused on city life.

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Literature Review

In addition, they control for of green areas on property. You delve into this subject when you talk about how visible to the neighborhood and is less greenery in New color which is the majority of Chinatown residents. Additional results from the Anderson the relationship between the proximity to the general mindset of residents have made an effort. Once again in Seattle, and the Pacific Northwest as a dense area, but there also how the value of green space must be tied to Chicago is more industrial and. For example Central Park in in Chinatown that was mentioned upon, might provide much more is also correlated with an. This goes back to my earlier thought that Central Park must have a lot more factor to take into consideration. While I was reading through in a much more population whole, the mindset of the city is very focused on nature and environmental protection, whereas in most parts of North. But, if I am in and West analysis highlight the mean a lot more to the city could be something. A study conducted by Anderson neighborhood characteristics and potential omitted spatial variables using local fixed. PARAGRAPHHowever, Li claims the effects of the plan were clearly that came to mind literature review on residential property disproportionately affected low-income residents of York City than there is the features of the adjacent.

This article presents a systematic literature review on residential property investor types in selected social science disciplines and. Find, read and cite all the research you need on ResearchGate. of Location on Residential Properties Value in Nigeria A Scholarly Review of Literature. empirical studies have used these theories or a combination of these theories in their research design. Several variables representing housing.