Residential property in Australia: mismatched investment and rental demand

References

• Andrews, D., Sanchez A. C. & Johansson, J. A. (2011) Housing Markets and Structural Policies in OECD Countries. OECD Economics Department Working Papers, No. 836 (Paris: OECD Publishing). doi:10.1787/5kgk8t2k9vf3-en.
   Google Scholar
• Arbel, Y., Ben-Shahar, D. & Gabriel, S. (2014) Anchoring and housing choice: Results of a natural policy experiment, Regional Science and Urban Economics, 49(Supplement C), pp. 68–83.
   Web of Science ®Google Scholar
• Badcock, B. & Browett, M. (1991) The responsiveness of the private rental sector in Australia to changes in commonwealth taxation policy, Housing Studies, 6, pp. 182–192.
   Google Scholar
• Beer, A. (1999) Housing investment and the private rental sector in Australia, Urban Studies, 36, pp. 255–269.
   Web of Science ®Google Scholar
• Berry, M. (2000) Investment in rental housing in Australia: Small landlords and institutional investors, Housing Studies, 15, pp. 661–681.
   Web of Science ®Google Scholar
• Brown, R., Brown, R., O’Connor, I., Schwann, G. & Scott, C. (2011) The other side of housing affordability: The user cost of housing in Australia, Economic Record, 87, pp. 558–574.
   Web of Science ®Google Scholar
• Brown, R. M., Schwann, G. & Scott, C. (2008) Personal residential real estate investment in Australia: Investor characteristics and investment parameters, Real Estate Economics, 36, pp. 139–173.
   Web of Science ®Google Scholar
• Brueckner, J. K. & Follain, J. R. (1988) The rise and fall of the ARM: An econometric analysis of mortgage choice, The Review of Economics and Statistics, 70, pp. 93–102.
   Web of Science ®Google Scholar
• Brueckner, J. K. & Follain, J. R. (1989) ARMs and the demand for housing, Regional Science and Urban Economics, 19, pp. 163–187.
   Web of Science ®Google Scholar
• Caldera, A. & Johansson, A. (2013) The price responsiveness of housing supply in OECD countries, Journal of Housing Economics, 22, pp. 231–249.
   Web of Science ®Google Scholar
• Carrington, S. & Madsen, J. B. (2011) House prices, credit and willingness to lend, Economic Record, 87, pp. 537–557.
   Web of Science ®Google Scholar
• Dowling, R. & Power, E. (2012) Sizing home, doing family in Sydney, Australia, Housing Studies, 27, pp. 605–619.
   Web of Science ®Google Scholar
• Dungey, M., Doko Tchatoka, F., Wells, G. & Yanotti, M. B. (2015) Mortgage choice determinants: The role of risk and bank regulation, Economic Record, 91, pp. 417–437.
   Web of Science ®Google Scholar
• Gallin, J. (2008) The long‐run relationship between house prices and rents, Real Estate Economics, 36, pp. 635–658.
   Web of Science ®Google Scholar
• Gan, Q. & Hill, R. J. (2009) Measuring housing affordability: Looking beyond the median, Journal of Housing Economics, 18, pp. 115–125.
   Web of Science ®Google Scholar
• Gauder, M., Houssard, C. & Orsmond, D. (2014) Foreign Investment in Residential Real Estate Technical report, RBA Bulletin, June Quarter 2014, 11–18.
   Google Scholar
• Gitelman, E. & Otto, G. (2012) Supply elasticity estimates for the Sydney housing market, Australian Economic Review, 45, pp. 176–190.
   Web of Science ®Google Scholar
• Gurran, N., Phibbs, P., Yates, J., Gilbert, C., Whitehead, C., Norris, M., McClure, K., Berry, M., Maginn, P. & Goodman, R. (2015) Housing Markets, Economic Productivity, and Risk: International Evidence and Policy Implications for Australia, Volume 1: Outcomes of an Investigative Panel Technical report, Australian Housing and Urban Research Institute.
   Google Scholar
• Hanewald, K. & Sherris, M. (2013) Postcode-level house price models for banking and insurance applications, Economic Record, 89, pp. 411–425.
   Web of Science ®Google Scholar
• Ioannides, Y. M. & Rosenthal, S. S. (1994) Estimating the consumption an investment demands for housing and their effect on housing tenure status, The Review of Economics and Statistics, 76, pp. 127–141.
   Web of Science ®Google Scholar
• Kemp, P. A. & Rhodes, D. (1997) The motivations and attitudes to letting of private landlords in Scotland, Journal of Property Research, 14, pp. 117–132.
   Google Scholar
• Kennedy, R., See, P. & Sutherland, P. (1995) Minimum Legislative Standards for Residential Tenancies in Australia Technical report, Commonwealth Department of Housing and Regional Development.
   Google Scholar
• Martin, C., Hulse, K., Pawson, H., With Hayden, A., Kofner, S., Schwartz, A. & Stephens, M. (2018) The Changing Institutions of Private Rental Housing: An International Review Final Report no. 292, Melbourne: AHURI.
   Google Scholar
• Ong, R., Dalton, T., Gurran, N., Phelps, C., Rowley, S. & Wood, G. A. (2017) Housing Supply Responsiveness in Australia: Distribution, Drivers and Institutional Settings, AHURI Final Report No. 281 (Melbourne: Australian Housing and Urban Research Institute Limited). doi:10.18408/ahuri-8107301.
   Google Scholar
• Paris, C. (1993) Housing Australia (Palgrave, London: Macmillan Publishers Limited).
   Google Scholar
• Paris, C., Stimson, R. J. & Daly, M. T. (1985) Private Renting, Public Issues: Private Rental Housing in New South Wales (Canberra: Australian Institute of Urban Studies).
   Google Scholar
• Paris, C. & Weeks, R. W. (1991) Impacts on investment market changes following changes to landlord and tenant and associated legislation Technical report, Canberra: National Housing Strategy.
   Google Scholar
• Parlett, N. & Rossiter, A. (2004) Residential Property Investors in Australia Technical Report, Reserve Bank of Australia Bulletin, Vol 52, 2004.
   Google Scholar
• Rappaport, J. (2007) Moving to nice weather, Regional Science and Urban Economics, 37, pp. 375–398.
   Web of Science ®Google Scholar
• Reserve Bank of Australia (2015) Proportion of investment housing relative to owner-occupied housing, Submission to the Inquiry into Home Ownership, June 2015. Available at http://www.rba.gov.au/publications/submissions/housing-and-housing-finance/inquiry-into-home-ownership/proportion-investment-housing-relative-owner-occ-housing.html (accessed 26 May 2021).
   Google Scholar
• Reserve Bank of Australia (2017) RBA financial stability review, October 2017. Available at https://www.rba.gov.au/publications/fsr/2017/oct/pdf/financial-stability-review-2017-10.pdf (accessed 26 May 2021).
   Google Scholar
• Rogers, D., Lee, C. L. & Yan, D. (2015) The politics of foreign investment in Australian housing: Chinese investors, translocal sales agents and local resistance, Housing Studies, 30, pp. 730–748.
   Web of Science ®Google Scholar
• Seelig, T., Burke, T. & Morris, A. (2006) Motivations of Investors in the Private Rental Market, AHURI Positioning Paper No. 87 (Melbourne: Australian Housing and Urban Research Institute Limited).
   Google Scholar
• Seelig, T., Thompson, A., Burke, T., Penningar, S., McNelis, S. & Morris, A. (2009) Understanding What Motivates Households to Become and Remain Investors in the Private Rental Market, AHURI Final Report No. 130 (Melbourne: Australian Housing and Urban Research Institute Limited).
   Google Scholar
• Shi, S., Valadkhani, A., Smyth, R. & Vahid, F. (2016) Dating the timeline of house price bubbles in Australian capital cities, Economic Record, 92, pp. 590–605.
   Web of Science ®Google Scholar
• Shroder, M. (2001) What makes a landlord? Ownership of real estate by us households, Urban Studies, 38, pp. 1069–1081.
   Web of Science ®Google Scholar
• Sterzer, L. (2017) Does competition in the housing market cause transport poverty? Interrelations of residential location choice and mobility, European Transport Research Review, 9, pp. 45.
   Web of Science ®Google Scholar
• Waltl, S. R. (2018) Estimating quantile-specific rental yields for residential housing in Sydney, Regional Science and Urban Economics, 68, pp. 204–225.
   Web of Science ®Google Scholar
• Wood, G. A. & Ong, R. (2013) When and why do landlords retain property investments?, Urban Studies, 50, pp. 3243–3261.
   Web of Science ®Google Scholar
• Wood, G. A. & Tu, Y. (2004) Are there investor clienteles in rental housing?, Real Estate Economics, 32, pp. 413–436.
   Web of Science ®Google Scholar
• Wood, G. A. & Watson, R. K. (1999) The User Cost-of-Capital, Taxation and the Marginal Supply of Private Rental Housing: Evidence from Microdata, Working paper no. 176 (Perth: Economics Department, Murdoch University).
   Google Scholar
• Wood, G. A. & Watson, R. K. (2001) Marginal suppliers, taxation, and rental housing: Evidence from microdata, Journal of Housing Research, 12(1), pp. 91–114.
   Google Scholar
• Wright, D. & Yanotti, M. B. (2019) Home advantage: The preference for local residential real estate investment, Pacific-Basin Finance Journal, 57, pp. 101167.
   Web of Science ®Google Scholar
• Yates, J. (1996) Towards a reassessment of the private rental market, Housing Studies, 11, pp. 35–50.
   Web of Science ®Google Scholar