Show simple item record

dc.contributor.authorGarner, Garyen
dc.date.accessioned2012-11-14T21:44:41Z
dc.date.issued2012-09en
dc.identifier.citationGarner, G. O. (2012). The dynamics of holding costs in greenfield residential property development. Australia and New Zealand Property Journal, 3(7), September 2012en
dc.identifier.issn1836-6635en
dc.identifier.urihttps://hdl.handle.net/10182/5049
dc.description.abstractIn the case of greenfield residential property developments, it is generally accepted that aside from the cost of the undeveloped land, and subsequent direct development costs (i.e. building and construction), development costs contributions expended towards infrastructure typically represent the largest planning related cost. However, it may be demonstrated that holding costs (i.e. essentially, those costs revolving around an assessment of “carrying costs” related to capital and other outlays) not only rival, but typically even exceed apparently more pervasive, obvious costs involved in property development. Of particular significance is that, together with non-financial barriers, these costs are being increasingly recognised as significant impactors in relation to housing affordability. Such costs arise from inconsistent planning requirements, development assessment procedures, and conflicts between developers and local councils. Their impact has underpinned a diverse range of planning reforms currently underway in various regions throughout Australia. Examples include systematic enhancements intended to provide greater standardisation, and reduced administrative requirements, system complexity and timeliness. It is indisputable that developer infrastructure costs strongly impact housing costs and therefore affordability: and, compared to holding costs, they are much more visible and easily quantified. In contrast, holding costs may seem less tangible as they typically stem from issues revolving around uncertainty, timeliness and inconsistency. Nonetheless, it can be established that they represent a potentially formidable financial barrier. As a consequence, the impact of holding costs emphasises the financial benefits arising from planning reform and intervention. Whilst this research involves investigation of the dimensions of holding costs based on data largely derived from case study investigations originating from midsized to larger (up to 200 lot) residential greenfield property development in South East Queensland, theoretical modelling strongly suggests that the outcomes have application outside this specification.en
dc.format.extent562-568en
dc.language.isoenen
dc.publisherAustralian Property Institute and the Property Institute of New Zealand.en
dc.relationThe original publication is available from - Australian Property Institute and the Property Institute of New Zealand.en
dc.rightsCopyright © The Author.en
dc.subjectproperty developmenten
dc.subjectgreenfield residential propertyen
dc.subjectholding costsen
dc.titleThe dynamics of holding costs in greenfield residential property developmenten
dc.typeJournal Article
lu.contributor.unitLincoln Universityen
lu.contributor.unitFaculty of Agribusiness and Commerceen
lu.contributor.unitDepartment of Land Management and Systemsen
dc.relation.isPartOfAustralian and New Zealand Property Journalen
pubs.issue7en
pubs.organisational-group/LU
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce/LAMS
pubs.publication-statusPublisheden
pubs.volume3en
lu.identifier.orcid0000-0002-1200-9550


Files in this item

Default Thumbnail

This item appears in the following Collection(s)

Show simple item record