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Research Papers, Lincoln University

The housing and mortgage market in Christchurch experienced significant changes since the 2011 earthquake, especially after the reconstruction of the city. The increasing speed of Christchurch average house price exceed the average house price of the whole country, as well as the number of new dwellings. By this regard, this study surveyed the households in Christchurch to analyze the effect of the earthquake on housing and mortgage market. This includes factors such as housing price, interest rate, government policy and socioeconomic factors in terms of age, gender, educational attainment, income, marital status and family life cycle. Logistic regression model is used to analyze the data. The study provides an overview of the housing market and mortgage market in Christchurch. The logistic regression, results show changes on sensitivity between the socio-economic factors and house purchase, as well as mortgage borrowing pre- and post-earthquake. The result indicates that the earthquake in Christchurch has affected households’ decision on house purchase and mortgage borrowing.

Images, UC QuakeStudies

Buildings seen through the cordon fence from Cathedral Square. From left to right are MFL House, the Forsyth Barr building, the PriceWaterhouseCoopers building, the Camelot Hotel and the Cathedral Square Police Station.

Images, Alexander Turnbull Library

A passerby stops at an advertisement on the lawn outside a house which reads 'Sound commercial property - Christchurch $450,000' and comments to the owner that it 'seems a good buy'. The owner tells him that's 'the yearly rental'. Context - property and rental prices in Christchurch since the earthquakes of 4 September 2010 and 22 February 2011. Quantity: 1 digital cartoon(s).

Images, UC QuakeStudies

Photograph captioned by Fairfax, "Chris Lin and his wife Caleen Xue at the door of their cool store safe where they slept for three weeks after the 4 September earthquake to guard what was left of their stock, while their teenage children rented a single room in a house up the road for their safety".

Images, UC QuakeStudies

Photograph captioned by Fairfax, "Chris Lin and his wife Caleen Xue at the door of their cool store safe where they slept for three weeks after the 4 September earthquake to guard what was left of their stock, while their teenage children rented a single room in a house up the road for their safety".

Audio, Radio New Zealand

New Zealanders are paying too much for house and contents insurance, according to a new survey. Consumer NZ's price comparison survey shows climate and natural hazard risk is being factored in, and is more expensive than ever. Quotes for a large house differed by more than $3,000 across Auckland, Hamilton, Wellington, Christchurch, and Dunedin, and there's a more than $2,000 difference between the cheapest and most expensive policies on offer for a standard-sized house. If you live somewhere with a higher chance of earthquakes - such as Wellington or Christchurch - you'll be charged more for insurance. The cost of house and contents insurance has risen by 5.6% this year, over the past ten years it's gone up 150%. Kathryn is joined by Consumer NZ's Gemma Rasmussen and Katrina Shanks Chief Executive of Financial Advice New Zealand, which represents independent and professional financial advisors.

Audio, Radio New Zealand

Topics - The Mayor of Christchurch says he's confident the city council will speed up the processing of building consents and won't lose its authority to grant them. Are Christchurch's frustrations with the Earthquake Commission a result of some kind of misunderstanding. Media hype's being blamed for skyrocketing house prices in parts of Auckland.

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.

Audio, Radio New Zealand

It could be up to 18 months before 660 Christchurch homeowners know who will pay for earthquake damage repairs with a $1 billion price tag. The bill to fix houses in Christchurch that weren't repaired properly the first time round, or have suffered more damage in aftershocks, is climbing - and the government can't say who's liable. The problem is the homes have new owners who can't claim on theri insurance because the damage pre-dates them owning the home. Earlier Greater Christchurch Regeneration Minister Megan Woods told us the previous National government put no plan in place, and the current government is being left to pick up the pieces. Former Christchurch earthquake recovery minister Gerry Brownlee disputes the issue.

Images, UC QuakeStudies

A digitally manipulated image of the Gap Filler Monopoly board square on Manchester Street. The photographer comments, "On the site of a demolished earthquake damaged building in Christchurch, New Zealand is a Monopoly game square for giants. The Gap Filler Project makes the bare land where once a building once stood into something both interesting and unique and this time they created a massive Monopoly board square. In the game of Monopoly you move your player with a dog, shoe or maybe the hat, but as the most common thing in the City are diggers they have the placed one on the square. There are also two houses on Manchester Street, which is priced at $240".

Audio, Radio New Zealand

A review of the week's news including... New questions are raised by leaked video footage showing a robot and two workers inside the Pike River mine just months after the 2010 disaster, fresh happy faces in the newly announced Labour list line up, the country's two biggest media companies have been given a strong message from the regions after their proposed merger is knocked back, a full biosecurity operation launched in Kerikeri, Wellington house prices soar, a helicopter pilot describes his crash north of Wellington as 'frightening', women in the Mongrel Mob say there is now less violence towards women, a review of the Kaikoura earthquake reveals it generated a tsunami of nearly 7 metres, the most annoying driving habits on Christchurch roads and one half of a champion rowing crew is surprised by the other half's retirement announcement.

Research papers, Victoria University of Wellington

<b>New Zealand has a housing crisis. High land prices and high construction costs have all contributed to unaffordable housing. Additionally, the New Zealand dream of the "quarter acre section" lifestyle that has encouraged urban sprawl throughout our major cities with increasingly unsustainable services, transport and road costs. New and exciting housing options need to be explored for urban areas. </b> Christchurch is a city in New Zealand where urban sprawl has always been prevalent. In the wake of the 2010/2011 earthquakes sprawl increased further, relocating large suburban areas yet further away from the city centre. This has caused a greater reliance on cars, and a slower revival to the city. Historically there is an aversion to higher density living. Perceived desirability is a large factor. The medium to high density solutions produced thus far have little regard for the concept of "home", with the use of substandard materials, and monotonous and repetitive design, and essentially falling short of addressing the needs of New Zealand's increasing population. "A Home with a View" looks to address the needs of New Zealanders and Christchurch, through the individual tower-house within an overarching tower-housing neighbourhood development. The design as research thesis develops a medium density tower-housing neighbourhood as a mini city-scape, through the exploration of the tower-house as an intimate space to live and observe from. Tower-housing has the potential to create a delightful, lively neighbourhood environment that contributes to quirky, new, and exciting housing options for New Zealand. The tower-house creates desire through unconventional lifestyle and highlights engaging solutions to an individual vertical housing type.

Research Papers, Lincoln University

"Prior to the devastating 2010-2011 Canterbury earthquakes, the city of Christchurch was already exhibiting signs of a housing affordability crisis. The causes and symptoms were similar to those being experienced in Auckland, but the substantial damage to the housing stock caused by the earthquakes added new dimensions and impetus to the problem. Large swathes of the most affordable housing stock in the east of the city were effectively destroyed by the earthquakes. In itself this would have pushed the mean house price upwards, but compounding problems exacerbated the situation. These include the price effects of reduced supply of both rented and owned housing and increased demand from both displaced residents and an influx of rebuild workers. The need for additional temporary housing while repairs were undertaken and the associated insurance pay-outs bidding up rents with improved rental returns leading to increased interest in property investment. Land supply constraints and consenting issues inhibiting the build of new housing and political infighting and uncertainty regarding the future of parts of the city leading to a flight of development activity to peripheral locations and adjoining local authorities. Concerns that the erosion of the city council rating base combined with inadequacy of insurance cover for infrastructure will lead to large rates increases, increased development costs and reduced amenities and services in future years. These and other issuers will be elaborated on in this paper with a view to exploring the way forward for affordable housing Christchurch City."

Images, Alexander Turnbull Library

Prime Minister John Key drives a tractor to which is attached a crane and a huge demolition ball in the shape of MP Gerry Brownlee's head; the ball smashes against a historic building bringing stone pediments down. Context - Gerry Brownlee, who is Earthquake Recovery Minister, has caused a stir by suggesting that if he had his way some of Christchurch's older buildings would be "down tomorrow". He also said the price of saving some historic buildings badly damaged in the February 22 earthquake was too high. People had died in the quake because of attempts to save historic buildings badly damaged in the September 4 quake. Brownlee said he had no regrets despite the stir his comments caused - but he was annoyed by suggestions the Cathedral and Riccarton House were among buildings he thought should be bowled. He believed those buildings should be saved, and they would be. "I'm not a philistine; I was chairman of the trust that actually saved Riccarton House from the bulldozers in 1990. "I understand conservation architecture very well and I do have an appreciation of heritage buildings." Original cartoon held at A-474-048 Quantity: 1 digital cartoon(s).

Images, Alexander Turnbull Library

The cartoon shows a monstrous machine with an enormous crushing ball attached to a giant crane. It moves past a signpost that points towards Christchurch. A man watches and tells his friend 'Gerry Brownlee borrowed it from Auckland! Context - Brownlee has caused a stir by suggesting that if he had his way some of Christchurch's older buildings would be "down tomorrow". He also said the price of saving some historic buildings badly damaged in the February 22 earthquake was too high. People had died in the quake because of attempts to save historic buildings badly damaged in the September 4 quake. Brownlee said he had no regrets despite the stir his comments caused - but he was annoyed by suggestions the Cathedral and Riccarton House were among buildings he thought should be bowled. He believed those buildings should be saved, and they would be. "I'm not a philistine; I was chairman of the trust that actually saved Riccarton House from the bulldozers in 1990. "I understand conservation architecture very well and I do have an appreciation of heritage buildings." Colour and black and white versions available Quantity: 2 digital cartoon(s).

Images, Alexander Turnbull Library

Text reads 'Pet of the day... ' Below is a notice tacked to a wall which has an image of a cat wearing spectacles on it. Text reads 'LOST. Large moggy, last seen roaming in Christchurch. Answers to the name of "Gerry" or "Dinners ready". Has a loud purr, looks cuddly but can turn...' Context: This is a reference to Gerry Brownlee, the Minister for Earthquake Recovery. When National announced its offer based on the 2007 rating valuation to red-zone property owners on 23 June, Gerry Brownlee specifically told people who had made improvements between the time of the valuation and the September quake to 'keep their receipts'. The offer from CERA dated August 19 now says quite clearly that people can only seek an adjustment to the purchase price if the rating valuation is based on an incorrect floor area, or if 'you have received a code compliance certificate for consented building work undertaken after the rating valuation and that work increased the floor area of your house'. (Voxy - 23 August 2011) Quantity: 1 digital cartoon(s).

Audio, Radio New Zealand

1. PHIL TWYFORD to the Minister for State Owned Enterprises: What reports, if any, has he received about KiwiRail's plans to get rid of electric locomotives on the North Island Main Trunk Line and replace them with diesel locomotives? 2. JULIE ANNE GENTER to the Minister for State Owned Enterprises: Is he considering replacing the electric locomotives with diesel locomotives on the Main Trunk Line, and would this mean removing electrification on that line. 3. DAVID BENNETT to the Minister of Finance: What reports has he received on the New Zealand economy and business sentiment? 4. Rt Hon WINSTON PETERS to the Minister for Primary Industries: Does he believe the Dairy Industry Restructuring Amendment Act 2012 has achieved &quot;a stable, permanent capital base for the Co-operative, secures our future and will support progress with our strategy to grow volumes and value&quot;; if so, why? 5. MATT DOOCEY to the Minister for Social Development: What announcements has she made to improve statutory child protection in New Zealand? 6. Dr DAVID CLARK to the Minister for Economic Development: What lessons, if any, on regional economic development has he drawn from his recent ministerial visits to Northland? 7. CATHERINE DELAHUNTY to the Minister for State Owned Enterprises: Will he stop any further work on dairy conversions by Landcorp, in light of the drop in the dairy price yesterday and concerns about the impact that those conversions will have on water quality; if not, why not? 8. MARK MITCHELL to the Minister of Trade: What recent steps has the Government taken to promote and support New Zealand exporters? 9. Hon DAVID PARKER to the Minister of Trade: What monetary and other assistance was provided by the New Zealand Government in support of his bid for appointment as Director-General of the World Trade Organisation? 10. BARBARA KURIGER to the Minister for Small Business: How are small businesses benefiting from the Better for Business - Result 9 Programme? 11. POTO WILLIAMS to the Minister for Social Housing: Why are Christchurch's social housing organisations facing increased homelessness four years after the last major earthquake? 12. MAHESH BINDRA to the Minister of Corrections: Does he stand by all his answers given to the House on 1 April 2015?

Audio, Radio New Zealand

GRANT ROBERTSON to the Minister for Tertiary Education, Skills and Employment: Does he stand by his statement that the Household Labour Force Survey is &quot;the standard internationally recognised measure of employment and unemployment&quot;? PAUL GOLDSMITH to the Minister of Finance: What recent reports has he received on the economy? Dr KENNEDY GRAHAM to the Minister for Climate Change Issues: Does he stand by the answer given by the Minister of Finance to the question &quot;Does he accept that human-induced climate change is real?&quot; that &quot;It may well be&hellip;&quot;? Hon DAVID PARKER to the Minister of Finance: Given that unemployment is rising, exports are down, and house price inflation in Auckland and Canterbury is in double-digits, does he agree that after 5 years as Finance Minister he has failed to rebalance and diversify the economy; if not, why not? JOHN HAYES to the Minister of Trade: What efforts is the Government making to deal with the market effects of the possible contamination of some Fonterra diary exports? Hon SHANE JONES to the Minister for Economic Development: What action has he taken to ensure high value jobs are retained in Otago, Waikato, Northland, East Coast and Manawatu? KEVIN HAGUE to the Minister of Health: Exactly how many of the 21 recommendations to the Minister in the 2010 Public Health Advisory Committee Report The Best Start in Life: Achieving effective action on child health and wellbeing has he implemented? JACQUI DEAN to the Minister for Food Safety: What update can she provide the public on the safety of infant formula? Hon DAMIEN O'CONNOR to the Minister for Primary Industries: Does he stand by all his statements? NICKY WAGNER to the Minister for Building and Construction: What reports has he received following the Government's announcement of a new earthquake-prone building policy? RICHARD PROSSER to the Minister for Primary Industries: What reports, if any, has he received regarding the regeneration of fish stocks in the Snapper 1 fishery? Dr DAVID CLARK to the Minister for Economic Development: Does he agree with Dunedin Mayor Dave Cull that &quot;Central government needs to understand we can't have a &hellip; two-speed economy where Christchurch and Auckland are ripping ahead and the rest of the regions are withering&quot;; if not, why not?

Audio, Radio New Zealand

RON MARK to the Prime Minister: Does he stand by all his statements; if so, how? ANDREW LITTLE to the Prime Minister: Does he stand by his statement that &ldquo;if you see house prices rising, you might say the Government needs to do more&rdquo; and &ldquo;we take responsibility, we need to do a better job of it&rdquo;? SARAH DOWIE to the Minister of Finance: What international reports has he received showing New Zealand&rsquo;s economic growth remains robust? Hon ANNETTE KING to the Minister of Health: On what date was the Ministry of Health first made aware of data manipulation of the six-hour Emergency Department target by district health boards? CHRIS BISHOP to the Minister for Economic Development: What recent announcements has the Government made regarding support for earthquake-affected businesses? METIRIA TUREI to the Minister for Building and Housing: Ka tū a ia i runga i te mana o tana kōrero, &ldquo;The proportion of New Zealanders living in rental homes is not changing dramatically and owner-occupiers will remain the dominant living arrangement for most Kiwi families into the future&rdquo; i te mea, ā, e ai ki ngā tatauranga hou, nō mai anō i te tau Kotahi mano, iwa rau, rima tekau mā tahi, i taka ai te hunga whiwhi i tōna ake whare, ki raro rā nō? Translation: Does he stand by his statement that &ldquo;The proportion of New Zealanders living in rental homes is not changing dramatically and owner-occupiers will remain the dominant living arrangement for most Kiwi families into the future&rdquo; given that home ownership is at its lowest level since 1951, according to the latest census? STUART SMITH to the Minister for Primary Industries: What recent announcements has he made regarding support for earthquake-affected primary sectors? GRANT ROBERTSON to the Minister of Finance: Does he agree with the Prime Minister&rsquo;s statement that Treasury forecasts are &ldquo;a load of nonsense, because they can&rsquo;t get predications in 44 days right, let alone 44 years&rdquo;? ALFRED NGARO to the Minister for Building and Housing: What additional Auckland housing projects did he announce during last week&rsquo;s recess, and what are the latest reports on the growth in construction across Auckland showing? Dr MEGAN WOODS to the Minister responsible for the Earthquake Commission: Is he confident EQC will be employing the necessary resource to process and settle claims, from both the Canterbury earthquake sequence and the earthquake sequence of a fortnight ago, after 16 December; if so, why? DAVID SEYMOUR to the Minister of Police: What reassurance can she give to Epsom residents concerned that their Community Policing Centre will cease to operate after 24 years? IAN McKELVIE to the Minister of Commerce and Consumer Affairs: What announcements has he made recently that support the continued growth of the New Zealand wine export market?

Audio, Radio New Zealand

DAVID BENNETT to the Minister of Finance: How is the Government's economic programme helping to keep interest rates lower during this economic cycle, compared to the previous economic cycle in the mid-2000s? Dr RUSSEL NORMAN to the Minister of Energy and Resources: How much more is an average New Zealand household that uses 8,000kwh of power annually paying for electricity per year as of November 2013 compared to November 2008, according to the Ministry of Business, Innovation, and Employment's latest Quarterly Survey of Domestic Electricity Prices? Hon DAVID PARKER to the Minister of Finance: What will he do to &quot;spread some of the benefits of growth&quot; when hourly wage rates have only grown by 1.6 percent in the year to December 2013, which is close to 0 percent in real terms, when 45 percent of listed corporates have double-digit profit growth? JACQUI DEAN to the Minister for the Environment: What recent announcements has the Government made on the classification for drilling for oil and gas in New Zealand's Exclusive Economic Zone? GRANT ROBERTSON to the Minister of Justice: When she told the House yesterday &quot;I had previously told Oravida that it could not use my name or photograph to endorse or promote its business products or services&quot; when was that and what specific circumstances did it relate to? COLIN KING to the Minister for Tertiary Education, Skills and Employment: How is the Youth Guarantee Scheme helping the Government achieve the Better Public Services target of 85 percent of all 18-year-olds achieving NCEA Level two or an equivalent qualification in 2017? CAROL BEAUMONT to the Minister of Women's Affairs: Does she have confidence in the Ministry of Women's Affairs given their 2013 Annual Report shows that six out of seven policy outcomes have stayed the same or gone backwards in the last past year; if so, why? SCOTT SIMPSON to the Minister for Courts: How is the Government improving the way the Disputes Tribunal works to make it easier for New Zealanders to resolve civil disputes? Hon TREVOR MALLARD to the Minister of Internal Affairs: What action, if any, has he taken this year to show the Prime Minister that he has met the highest ethical standards required by Section 2.53 of the Cabinet Manual? ALFRED NGARO to the Minister of Pacific Island Affairs: What steps is the Government taking to lift the skills of Pacific people in New Zealand? DENIS O'ROURKE to the Minister for Canterbury Earthquake Recovery: Does he accept the conclusion in the Human Rights Commission's report Monitoring Human Rights in the Canterbury Earthquake Recovery that &quot;many people affected by the earthquakes continue to experience deteriorating standards of living and impacts on their quality of life that go beyond the immediate effects of the disaster&quot;? CATHERINE DELAHUNTY to the Minister of Energy and Resources: Has he had any discussions with any Indian Government Ministers about selling Solid Energy assets?

Research papers, Victoria University of Wellington

The Canterbury earthquake sequence (2010-2011) was the most devastating catastrophe in New Zealand‘s modern history. Fortunately, in 2011 New Zealand had a high insurance penetration ratio, with more than 95% of residences being insured for these earthquakes. This dissertation sheds light on the functions of disaster insurance schemes and their role in economic recovery post-earthquakes.  The first chapter describes the demand and supply for earthquake insurance and provides insights about different public-private partnership earthquake insurance schemes around the world.  In the second chapter, we concentrate on three public earthquake insurance schemes in California, Japan, and New Zealand. The chapter examines what would have been the outcome had the system of insurance in Christchurch been different in the aftermath of the Canterbury earthquake sequence (CES). We focus on the California Earthquake Authority insurance program, and the Japanese Earthquake Reinsurance scheme. Overall, the aggregate cost of the earthquake to the New Zealand public insurer (the Earthquake Commission) was USD 6.2 billion. If a similar-sized disaster event had occurred in Japan and California, homeowners would have received only around USD 1.6 billion and USD 0.7 billion from the Japanese and Californian schemes, respectively. We further describe the spatial and distributive aspects of these scenarios and discuss some of the policy questions that emerge from this comparison.  The third chapter measures the longer-term effect of the CES on the local economy, using night-time light intensity measured from space, and focus on the role of insurance payments for damaged residential property during the local recovery process. Uniquely for this event, more than 95% of residential housing units were covered by insurance and almost all incurred some damage. However, insurance payments were staggered over 5 years, enabling us to identify their local impact. We find that night-time luminosity can capture the process of recovery; and that insurance payments contributed significantly to the process of local economic recovery after the earthquake. Yet, delayed payments were less affective in assisting recovery and cash settlement of claims were more effective than insurance-managed repairs.  After the Christchurch earthquakes, the government declared about 8000 houses as Red Zoned, prohibiting further developments in these properties, and offering the owners to buy them out. The government provided two options for owners: the first was full payment for both land and dwelling at the 2007 property evaluation, the second was payment for land, and the rest to be paid by the owner‘s insurance. Most people chose the second option. Using data from LINZ combined with data from Stats NZ, the fourth chapter empirically investigates what led people to choose this second option, and how peer effect influenced the homeowners‘ choices.  Due to climate change, public disclosure of coastal hazard information through maps and property reports have been used more frequently by local government. This is expected to raise awareness about disaster risks in local community and help potential property owners to make informed locational decision. However, media outlets and business sector argue that public hazard disclosure will cause a negative effect on property value. Despite this opposition, some district councils in New Zealand have attempted to implement improved disclosure. Kapiti Coast district in the Wellington region serves as a case study for this research. In the fifth chapter, we utilize the residential property sale data and coastal hazard maps from the local district council. This study employs a difference-in-difference hedonic property price approach to examine the effect of hazard disclosure on coastal property values. We also apply spatial hedonic regression methods, controlling for coastal amenities, as our robustness check. Our findings suggest that hazard designation has a statistically and economically insignificant impact on property values. Overall, the risk perception about coastal hazards should be more emphasized in communities.