University of Adelaide Economists to Offer Solutions for Housing Affordability Crisis in September Workshop
Associate Professor Duygu Yengin from the University’s School of Economics and Public Policy has co-organised the workshop Economics of Housing Solutions . The free event is open to the public and will be held on the 29 September.
“Economists agree that focusing housing solution efforts on the demand-side of the market is generally counter-productive. For instance, first homeowner grants or tax concessions actually increase housing demand and lead to higher house prices,” said Associate Professor Yengin.
“To combat the housing affordability crisis we face in Australia, the supply-side of the market must be our focus.”
Associate Professor Yengin researches the economic theory of housing markets. She examines how South Australia can speed up urban renewal and combat urban sprawl to deliver improved housing affordability.
“Urban sprawl has undesirable consequences such as longer transportation times to social amenities, higher infrastructure costs, and more difficult access to jobs. The solution is medium to high-density developments in established suburbs that are well served by public infrastructure.
“Improving the supply of adequate housing in South Australia is an essential part of making housing more affordable.”
“Improving the supply of adequate housing in South Australia is an essential part of making housing more affordable.”
Associate Professor Duygu Yengin from the University of Adelaide’s School of Economics and Public Policy
Associate Professor Yengin will talk about her latest research at the workshop: Expropriation power in private dealings: Quota rule in collective sales . Her paper analyses the impact of planning laws that allow strata schemes to be dissolved using a majority decision.
“Replacing ageing and low-rise strata schemes with medium density newer buildings would help with housing affordability by increasing housing supply, as well as combatting urban sprawl,” she said.
“In South Australia, unanimous agreement by all owners is needed to sell a strata scheme to a developer. However, in 2016 New South Wales passed new legislation which allows for the entire strata scheme to be sold if at least 75% of the owners agree to sell to a developer.”
After the passing of the legislation, strata sales almost doubled in New South Wales.
“A similar legislation in South Australia can speed up urban renewal and combat urban sprawl, delivering higher housing affordability in our state.”
The workshop is presented by the University of Adelaide’s Stretton Institute and the Economic Society of Australia. It brings together economists and public policy makers to find solutions to housing affordability issues with a series of presentations and panel discussions occurring throughout the day.