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Research Papers, Lincoln University

The Tourism Industry Association New Zealand’s (TIA) annual State of the Tourism Sector 2012 has been prepared in partnership with Lincoln University. The objective of this is to understand better how the tourism sector sees its future and what challenges and opportunities lie ahead in both the short and longer term. State of the Tourism Sector 2012 provides a current view of the tourism sector for those within the industry and for external stakeholders who have an interest in tourism in New Zealand.

Research papers, University of Canterbury Library

This report examines and compares case studies of labour market policy responses in APEC economies to natural disasters. It first reviews the policies and practice within APEC economies and internationally in managing the labour market effects of natural disasters. By using comparative case studies, the report then compares recent disaster events in the Asia-Pacific region, including: - the June 2013 Southern Alberta floods in Canada; - the 2010 and 2011 Queensland floods in Australia; - the 2010 and 2011 Canterbury earthquakes in New Zealand; - the 2011 Great East Japan Earthquake and Tsunami in Japan; and - the 2008 Wenchuan earthquake in China.

Research papers, University of Canterbury Library

In September 2010 and February 2011, the Canterbury region experienced devastating earthquakes with an estimated economic cost of over NZ$40 billion (Parker and Steenkamp, 2012; Timar et al., 2014; Potter et al., 2015). The insurance market played an important role in rebuilding the Canterbury region after the earthquakes. Homeowners, insurance and reinsurance markets and New Zealand government agencies faced a difficult task to manage the rebuild process. From an empirical and theoretic research viewpoint, the Christchurch disaster calls for an assessment of how the insurance market deals with such disasters in the future. Previous studies have investigated market responses to losses in global catastrophes by focusing on the insurance supply-side. This study investigates both demand-side and supply-side insurance market responses to the Christchurch earthquakes. Despite the fact that New Zealand is prone to seismic activities, there are scant previous studies in the area of earthquake insurance. This study does offer a unique opportunity to examine and document the New Zealand insurance market response to catastrophe risk, providing results critical for understanding market responses after major loss events in general. A review of previous studies shows higher premiums suppress demand, but how higher premiums and a higher probability of risk affect demand is still largely unknown. According to previous studies, the supply of disaster coverage is curtailed unless the market is subsidised, however, there is still unsettled discussion on why demand decreases with time from the previous disaster even when the supply of coverage is subsidised by the government. Natural disaster risks pose a set of challenges for insurance market players because of substantial ambiguity associated with the probability of such events occurring and high spatial correlation of catastrophe losses. Private insurance market inefficiencies due to high premiums and spatially concentrated risks calls for government intervention in the provision of natural disaster insurance to avert situations of noninsurance and underinsurance. Political economy considerations make it more likely for government support to be called for if many people are uninsured than if few people are uninsured. However, emergency assistance for property owners after catastrophe events can encourage most property owners to not buy insurance against natural disaster and develop adverse selection behaviour, generating larger future risks for homeowners and governments. On the demand-side, this study has developed an intertemporal model to examine how demand for insurance changes post-catastrophe, and how to model it theoretically. In this intertemporal model, insurance can be sought in two sequential periods of time, and at the second period, it is known whether or not a loss event happened in period one. The results show that period one demand for insurance increases relative to the standard single period model when the second period is taken into consideration, period two insurance demand is higher post-loss, higher than both the period one demand and the period two demand without a period one loss. To investigate policyholders experience from the demand-side perspective, a total of 1600 survey questionnaires were administered, and responses from 254 participants received representing a 16 percent response rate. Survey data was gathered from four institutions in Canterbury and is probably not representative of the entire population. The results of the survey show that the change from full replacement value policy to nominated replacement value policy is a key determinant of the direction of change in the level of insurance coverage after the earthquakes. The earthquakes also highlighted the plight of those who were underinsured, prompting policyholders to update their insurance coverage to reflect the estimated cost of re-building their property. The survey has added further evidence to the existing literature, such as those who have had a recent experience with disaster loss report increased risk perception if a similar event happens in future with females reporting a higher risk perception than males. Of the demographic variables, only gender has a relationship with changes in household cover. On the supply-side, this study has built a risk-based pricing model suitable to generate a competitive premium rate for natural disaster insurance cover. Using illustrative data from the Christchurch Red-zone suburbs, the model generates competitive premium rates for catastrophe risk. When the proposed model incorporates the new RMS high-definition New Zealand Earthquake Model, for example, insurers can find the model useful to identify losses at a granular level so as to calculate the competitive premium. This study observes that the key to the success of the New Zealand dual insurance system despite the high prevalence of catastrophe losses are; firstly the EQC’s flat-rate pricing structure keeps private insurance premiums affordable and very high nationwide homeowner take-up rates of natural disaster insurance. Secondly, private insurers and the EQC have an elaborate reinsurance arrangement in place. By efficiently transferring risk to the reinsurer, the cost of writing primary insurance is considerably reduced ultimately expanding primary insurance capacity and supply of insurance coverage.

Audio, Radio New Zealand

Post-earthquake most people would say it was difficult to find housing in Christchurch. But reports suggest that the market has flattened. And terraced housing and apartments are sitting empty. Christchurch Council finance committee chairman, Councillor Raf Manji, discusses future developments like The East Frame.

Videos, UC QuakeStudies

A video of an interview with Sean Duxfield, the exhibitions and collections team leader at the Christchurch Art Gallery, about installing Michael Parekowhai's bull sculpture, 'On First Looking into Chapman's Homer', in the Christchurch Arts Centre market square. The sculpture was installed in secret on a patch of grass.

Images, UC QuakeStudies

Wall of the Butterfly Gap, where landowner Robyn wanted to activate the gap where a house she owned once stood. This is a Gap Filler project, a space where the public can request to hold markets or stalls. On it is a sign that says '' Butterfly Gap, Come and rest your wings...All Welcome'. Butterfly Gap.

Videos, UC QuakeStudies

A video of an interview with Alexandra Harteveld-Turnball, a Year 13 student from Marian College, about her school project making jewellery from earthquake rubble. Harteveld-Turnball and six friends were given access to the PricewaterhouseCooper site to gather rubble for their project. The jewellery will be sold at markets, with all proceeds going to St John.

Videos, UC QuakeStudies

A video of an interview with Andrew Wheely about the Whare store which has been operating from a garage since the 22 February 2011 earthquake. Wheely talks about how small businesses need flexible commercial leases to survive in the post-earthquake market. He also talks about the diploma in project management he has undertaken at the CPIT since the earthquakes.

Audio, Radio New Zealand

The capital has a tight rental accommodation market, and the peak demand season is just a few weeks from beginning. One prospective Wellington flat hunter, who'd experienced the Christchurch earthquake - including knowledge of the collapse, or partial collapse, of 3 buildings he'd previously lived in - has contacted us, frustrated at the lack of information available from landlords or letting agencies. What rights to information do tenants have?

Audio, Radio New Zealand

A review of the week's news including the aftermath of Auckland's killer Tornado, the pros and cons of the castration of serial sex offenders, the current state of the property market, the RNZAF's first revamped Orion on show, a Penthouse posing teacher's registration is revoked, Rugby World Cup opportunities for NZ business, a heroic ship wreck rescue remembered 80 years on and a true story of 'the show must go on' in the aftermth of the Christchurch earthquake.

Audio, Radio New Zealand

A review of the week's news including the aftermath of Auckland's killer Tornado, the pros and cons of the castration of serial sex offenders, the current state of the property market, the RNZAF's first revamped Orion on show, a Penthouse posing teacher's registration is revoked, Rugby World Cup opportunities for NZ business, a heroic ship wreck rescue remembered 80 years on and a true story of 'the show must go on' in the aftermath of the Christchurch earthquake.

Images, Alexander Turnbull Library

Shows Minister for Christchurch Earthquake Recovery Gerry Brownlee as Pontius Pilate washing his hands of the rental crisis in Christchurch. In the background is Jesus burdened with the cross and representing the 'rental crisis'. Context: The rental housing situation in Christchurch is at crisis point and is causing huge stress for people unable to find suitable accommodation. Earthquake Recovery Minister Gerry Brownlee said last month that the rental housing crisis was best left to the market, but Gatonyi said his stance was "totally flawed". (Press 12 April 2012) Quantity: 1 digital cartoon(s).

Research papers, University of Canterbury Library

Mr Wayne Tobeck, Director of Southrim Group (SRG), sponsored this 2013 MEM Project titled; A Technical and Economic Feasibility Study for the Integration of GSHP Technology in the Christchurch Rebuild. Following the recent Christchurch earthquakes, a significant amount of land has become too unstable to support traditional building foundations. This creates an opportunity to implement new and unique foundation designs previously unconsidered due to high costs compared to traditional methods. One such design proposes that an Injection Micro-Piling technique could be used. This can also be coupled with HVAC technology to create a Ground Source Heat Pump (GSHP) arrangement in both new buildings and as retrofits for building requiring foundation repair. The purpose of this study was to complete a feasibility study on the merits of SRG pursuing this proposed product. A significant market for such a product was found to exist, while the product was also found to be technically and legally feasible. However, the proposed product was found to not be economically feasible with respect to Air Source Heat Pumps due to the significantly higher capital and installation costs required. Further analysis suggests GSHPs may become more economically attractive in operating temperatures lower than -9oC, though the existence of markets with this climate in NZ has not been studied. It is therefore suggested that SRG do not proceed with plans to develop a GSHP coupled foundation solution for the Christchurch rebuild.

Audio, Radio New Zealand

Questions to Ministers 1. Hon ANNETTE KING to the Minister of Finance: When he said recently "where the Government does have some influence, we are working hard to keep prices low", which prices was he referring to? 2. DAVID BENNETT to the Minister of Finance: What are some of the likely impacts on the Government's finances of the Christchurch earthquake? 3. Hon DAVID PARKER to the Acting Minister for Economic Development: Does he stand by all his statements on economic development? 4. Dr JACKIE BLUE to the Minister for ACC: How many claims has ACC received since the tragic earthquake on 22 February and what steps has the Government taken to facilitate prompt compensation for those seriously injured? 5. Hon MARYAN STREET to the Minister of Civil Defence: What is the basis for according priority to entry of the red zone in the Christchurch central business district? 6. NIKKI KAYE to the Minister for Social Development and Employment: What support is the Government giving to non-government organisations in Christchurch affected by the earthquake? 7. Hon TREVOR MALLARD to the Prime Minister: What role did he or his department play in the decision to shift the Rugby World Cup quarter finals, from AMI Stadium to Eden Park? 8. JACQUI DEAN to the Minister of Corrections: What progress has been made toward the Government's commitment to encourage private sector investment in the New Zealand corrections system? 9. Hon DARREN HUGHES to the Minister for Tertiary Education: What specific policy changes has the Government made to increase the number of apprenticeships and other building-skills training programmes since the September Canterbury earthquake? 10. SUE KEDGLEY to the Minister of Commerce: Will he use his powers under Part 4 of the Commerce Act 1986 to call for an investigation into the dairy wholesale and retail milk market, following the release of the Ministry of Agriculture and Forestry's review of the domestic milk market in New Zealand; if not, why not? 11. CAROL BEAUMONT to the Minister of Women's Affairs: Does she support the retention of the stand-alone and independent Ministry of Women's Affairs? 12. JOHN HAYES to the Minister of Agriculture: What steps has the Government recently made to progress agricultural greenhouse gas research?

Images, Alexander Turnbull Library

Shows a graph illustrating the 'Growth forecast' for the economy. A large finger representing the 'Reserve Bank' squashes the growth arrow as though it is a fly and it starts to zig-zag crazily downwards. The statement made 16th September looked a shadow of the bright one the Reserve Bank published three months ago. With its forecasts finalised the day before the Canterbury earthquake struck, the Bank has taken secateurs to its economic growth track, and a carving knife to its interest rate path. Instead of GDP growth pushing 4% this year and next, for example, it now struggles to reach 3% in each. It's tempting to think this has been driven by the wobbling international news over recent months. In fact it's been because of a suddenly sombre view around NZ consumer spending and the housing market. (Interest.co.nz) Quantity: 1 digital cartoon(s).

Research papers, University of Canterbury Library

The earthquake sequence has resulted in significant physical and reputational damage to the Canterbury tourism industry. Eighteen months after the earthquakes inbound tourism data is still below pre-earthquake levels, with Canterbury operators reporting that the industry has not bounced back to where it was before September 2010. Outcomes of the earthquakes on business performance highlight there were winners and losers in the aftermath. Recovery of inbound tourism markets is closely tied to the timeframe to rebuild the CBD of Christchurch. Reinstating critical tourism infrastructure will drive future tourism investment, and allow tourism businesses to regenerate and thrive into the future. A blueprint for rebuilding the CBD of Christchurch was released by the Christchurch City Council in July 2012, and has been well received by tourism stakeholders in the region. The challenge now is for city officials to fund the development projects outlined in the blueprint, and to rebuild the CBD as quickly as possible in order to help regenerate the tourism industry in Christchurch, Canterbury and the rest of the South Island

Research Papers, Lincoln University

‘Housing affordability’ has been a term used to refer to a problem that arises when the costs of housing are seen as being unreasonably high in relation to incomes. In the United Kingdom and Australia the local town planning systems have been used to address housing affordability issues. This response in countries that share New Zealand’s town and country planning history raised the question for this research of the local government response to housing affordability issues in the city of Christchurch, New Zealand. This research was undertaken during the fifth year after the 2010/2011 Canterbury earthquake series. Research conducted by the Centre for Housing Research Aotearoa New Zealand and the New Zealand Productivity Commission present quite different pictures of the housing affordability problem, suggest different solutions and indicate different roles for levels of government, the community housing sector and the housing market. The research undertaken for this dissertation aimed to address the question of the role of the state, through the lense of a local response to housing affordability issues, in the context of a central government response focused on land supply and reforming the Resource Management Act 1991.

Research papers, University of Canterbury Library

Recycling is often employed as part of a disaster waste management system. However, the feasibility, method and effectiveness of recycling varies between disaster events. This qualitative study is based on literature reviews, expert interviews and active participatory research of five international disaster events in developed countries (2009 Victorian Bushfires, Australia; 2009 L’Aquila earthquake, Italy; 2005 Hurricane Katrina, United States; 2010 and 2011 Canterbury earthquakes, New Zealand; 2011 Great East Japan earthquake) to answer three questions: What are the main factors that affect the feasibility of recycling post-disaster? When is on-site or off-site separation more effective? What management approaches improve recycling effectiveness? Seven disaster-specific factors need to be assessed to determine the feasibility of disaster waste recycling programmes: volume of waste; degree of mixing of waste; human and environmental health hazards; areal extent of the waste; community priorities; funding mechanisms; and existing and disaster-specific regulations. The appropriateness of on or off-site waste separation depends on four factors: time constraints; resource availability; degree of mixing of waste and human and public health hazards. Successful recycling programmes require good management including clear and well enforced policies (through good contracts or regulations) and pre-event planning. Further research into post-disaster recycling markets, funding mechanisms and recycling in developing countries is recommended.

Research papers, University of Canterbury Library

Home address-based school zoning regulations are widely used in many countries as one means of selecting pupils and estimating future enrolment. However, there is little research regarding an alternative system of zoning for parents’ place of employment. Previous research has failed to analyse potential impacts from workplace-based zoning, including negating the effects of chain migration theory and settlement patterns to facilitate cultural integration, promoting the physical and mental wellbeing of families by enabling their close proximity during the day, as well as positive results concerning a volatile real estate market. As the modern family more often consists of one or both parents working full-time, the requirement of children to attend school near their home may not be as reasonably convenient as near their parents’ workplace. A case study was performed on one primary school in Christchurch, consisting of surveys and interviews of school stakeholders, including parents and staff, along with GIS mapping of school locations. This found deeper motivations for choosing a primary school, including a preference for cultural integration and the desire to school children under 14 years near their parents’ place of employment in case of illness or earthquake. These data suggest that the advantages of workplace-based zoning may be worth considering, and this thesis creates a framework for the Ministry of Education to implement this initiative in a pilot programme for primary schools in Christchurch.

Research Papers, Lincoln University

This research provides an investigation into the impact on the North Island freight infrastructure, in the event of a disruption of the Ports of Auckland (POAL). This research is important to New Zealand, especially having experienced the Canterbury earthquake disaster in 2010/2011 and the current 2012 industrial action plaguing the POAL. New Zealand is a net exporter of a combination of manufactured high value goods, commodity products and raw materials. New Zealand’s main challenge lies in the fact of its geographical distances to major markets. Currently New Zealand handles approximately 2 million containers per annum, with a minimum of ~40% of those containers being shipped through POAL. It needs to be highlighted that POAL is classified as an import port in comparison to Port of Tauranga (POT) that has traditionally had an export focus. This last fact is of great importance, as in a case of a disruption of the POAL, any import consigned to the Auckland and northern region will need to be redirected through POT in a quick and efficient way to reach Auckland and the northern regions. This may mean a major impact on existing infrastructure and supply chain systems that are currently in place. This study is critical as an element of risk management, looking at how to mitigate the risk to the greater Auckland region. With the new Super City taking hold, the POAL is a fundamental link in the supply chain to the largest metropolitan area within New Zealand.

Audio, Radio New Zealand

Hon PAULA BENNETT to the Prime Minister: Does she stand by all her Government’s statements, policies, and actions? Hon JAMES SHAW to the Minister of Finance: Does he think that an independent Parliamentary Budget Office will improve the standard of democratic debate? Hon MARK MITCHELL to the Minister of Immigration: Does he stand by all his statements and actions in relation to Karel Sroubek? Hon DAVID BENNETT to the Minister of Corrections: Does he stand by his statement “We have never had to manage a prisoner like this before”, in relation to the alleged Christchurch gunman? Dr DUNCAN WEBB to the Minister responsible for the Earthquake Commission: What recent announcement has he made regarding quake-damaged homes in Canterbury? Hon Dr NICK SMITH to the Minister of Justice: Does he stand by all his statements, policies, and actions on electoral law and referenda? Dr SHANE RETI to the Minister of Health: Does he stand by all his statements, policies, and actions around vaccination? RINO TIRIKATENE to the Minister of Health: What progress, if any, has been made in modernising New Zealand’s fleet of air ambulances? Hon PAULA BENNETT to the Prime Minister: Does she stand by all her Government’s statements, policies, and actions? Dr SHANE RETI to the Minister of Education: Does he stand by all his statements, policies, and actions around the Reform of Vocational Education? GINNY ANDERSEN to the Minister of Commerce and Consumer Affairs: What reports has he seen about responses to the draft report of the Commerce Commission on the New Zealand fuel market? BRETT HUDSON to the Associate Minister of Transport: What is the petrol price exclusive of taxes and carbon charges assumed in the reference scenario in the preliminary cost-benefit analysis of the Clean Car Discount for August 2019, and how does this compare to the actual present petrol price exclusive of taxes and carbon charges?

Images, Alexander Turnbull Library

Cartoons about political and social issues in New Zealand and overseas. The cartoon has the words 'Tsunami Warning cancelled' in the centre. Above are the words 'The end is nigh... insurance running out! No more cover!' Below the word 'cancelled' are the words 'We have reinsurance!' Context - Civil Defence has cancelled a tsunami warning after a 7.8 magnitude earthquake struck off the Kermadec Islands this morning (7 July 2011) The tsunami image is used to illustrate the problems that could arise from lack of insurance in Christchurch. When their policies run out on 30 June Earthquake-hit Christchurch and Waimakariri councils are in danger of having no property insurance because as the CEO of Civic Assurance, which insures most councils, says, 'the company cannot buy reinsurance'. There was also a potential problem for home-owners when AMI Insurance, the largest insurer of homes in Christchurch, was threatening insolvency. However, AMI has announced that it has re-insurance cover for earthquakes and other natural disasters from tomorrow (1 July 2011) for the next year. The Government feared AMI Insurance's directors would wind up the company affecting a huge section of New Zealand's insurance market and derail the reconstruction of Christchurch, official documents confirm. AMI said it had doubled its cover for the year to June 2012 after three large quakes in the year to June 2011. (Stuff 30 June 2011) Quantity: 1 digital cartoon(s).

Audio, Radio New Zealand

Questions to Ministers Hon DAVID PARKER to the Minister of Finance: Does he stand by his statement that a publicly-owned insurer is a "dumb idea"? Dr RUSSEL NORMAN to the Prime Minister: Does he stand by all his statements regarding Government policy? Hon TAU HENARE to the Minister of Finance: What reports has he received on the economy – and especially on further signs of improving economic momentum and increasing business and consumer confidence? Hon SHANE JONES to the Prime Minister: Does he have confidence in his Ministers? Hon PETER DUNNE to the Minister of Foreign Affairs: What advice has he received on the call from Amnesty International opposing the appointment of Sri Lankan President Mahinda Rajapaksa as Chair of the Commonwealth for the next two years, and host of next week's Commonwealth Heads of Government meeting? Hon CLAYTON COSGROVE to the Minister responsible for the Earthquake Commission: Does he still believe that New Zealanders can have confidence in EQC? MARK MITCHELL to the Minister of Commerce: What steps is the Government taking to introduce more competition into the housing construction market? JAN LOGIE to the Minister of Justice: When she said, in response to whether the pre-trial and trial process precludes some sexual violence victims from complaining "quite clearly, it does not"; did she mean that few sexual violence victims are deterred from complaining by the process itself? Rt Hon WINSTON PETERS to the Prime Minister: Does he have confidence in the Minister for State Owned Enterprises? JACQUI DEAN to the Minister of Corrections: What recent announcements has she made on the redevelopment of prison facilities? PHIL TWYFORD to the Minister of Housing: Does he stand by his statement that the housing situation in Christchurch is "a challenge, not a crisis"? CHRIS AUCHINVOLE to the Minister for Arts, Culture and Heritage: How does the Government intend to mark the centenary of the First World War?

Research papers, University of Canterbury Library

The initial goal of this research was to explore how SME business models change in response to a crisis. Keeping this in mind, the business model canvas (Osterwalder & Pigneur, 2010) was used as a tool to analyse SME business models in the Canterbury region of New Zealand. The purpose was to evaluate the changes SMEs instituted in their business models after being hit by a series of earthquakes in 2010 and 2011. The idea was to conduct interviews with business owners and analyse them using grounded theory methods. As this method is iterative and requires simultaneous data collection and analysis, a tentative model was proposed after first phase of the data collection and analysis. However, as a result of this process, it became apparent that owner-specific characteristics, action orientation and networks were more prominent in the data than business model elements. Although the SMEs in this study experienced several operational changes in their business models, such as a change of location, modifications to their payment terms or expanded/restricted target markets, the suggested framework highlights how owner-specific attributes ensured the recovery of their businesses. After the initial framework was suggested, subsequent interviews were conducted to test, verify, and modify the tentative model. Three aspects of business recovery emerged: (a) cognitive coping – the business owner’s mind-set and motive; (b) adaptive coping – the ability of business owner to take corrective actions; and (c) social capital – the social network of a business owner, including formal and informal connections and their significance. Three distinct groups were identified; self-sufficient SMEs, socially-based SMEs and surviving SMEs. This thesis proposes a grounded theory of business recovery for SMEs following a disaster. Cognitive coping and social capital enabled the owners to take actions, which eventually led to the desired outcomes for the businesses.

Audio, Radio New Zealand

Hon DAVID PARKER to the Minister of Finance: Does he accept the BNZ statement that New Zealand’s increasing current account is “a very clear risk for New Zealand’s credit rating with Standard and Poor’s”? SHANE ARDERN to the Minister of Finance: What reports has he received on the economy? KEVIN HAGUE to the Minister for ACC: Can she confirm that staff in ACC’s Recovery Independence Service teams receive more or less remuneration dependent on whether the proportion of people receiving weekly compensation is less or more than specified duration targets? Hon DAVID CUNLIFFE to the Minister for Economic Development: Does he stand by all his recent statements? JAMI-LEE ROSS to the Minister of Police: What actions has the Government taken against illegal street racers? Hon MARYAN STREET to the Minister of Health: Has he received any reports or correspondence regarding the Community Pharmacy Services Agreement with District Health Boards and if he has, have they caused him any concern? TIM MACINDOE to the Minister of Justice: How is the Justice sector contributing to the Government’s better public services programme? GARETH HUGHES to the Minister for Climate Change Issues: Does he agree with the statement made by the Minister for the Environment, Hon Amy Adams in Rio, that, “Money spent on fossil fuels is money that could be spent on other sustainable development priorities”, and will the Government re-allocate the $889 million for ETS credits in Budget 2012 towards sustainable projects and a green economy? MIKE SABIN to the Minister of Immigration: What reports has he received on the benefits to New Zealand of the Recognised Seasonal Employer scheme? KRIS FAAFOI to the Minister of Police: Does she stand by all the statements she made to the Law and Order Committee yesterday? NICKY WAGNER to the Minister for Courts: What recent announcements has he made regarding court services for Christchurch? DENIS O'ROURKE to the Minister for Canterbury Earthquake Recovery: Does he still believe that the best way to deal with the price increase in home rentals in Christchurch is to leave it to the market?