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.
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.
‘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.
Shows a number of rental possibilities like a waterfront, a kennel, a wheelie bin, a parkbench, tress, the cardboard cathedral when it is no longer required and a sewage pipe. Context: The problem over lack of rental accomodation after the earthquakes.
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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)
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Christchurch was struck by a 6.3 magnitude earthquake on the 22 February 2011. The quake devastated the city, taking lives and causing widespread damage to the inner city and suburban homes. The central city lost over half its buildings and over 7000 homes were condemned throughout Christchurch. The loss of such a great number of homes has created the requirement for new housing to replace those that were lost. Many of which were located in the eastern, less affluent, suburbs. The response to the housing shortage is the planned creation of large scale subdivisions on the outskirts of the city. Whilst this provides the required housing it creates additional sprawl to a city that does not need it. The extension of Christchurch’s existing suburban sprawl puts pressure on roading and pushes residents further out of the city, creating a disconnection between them. Christchurch’s central city had a very small residential population prior to the earthquakes with very few options for dense inner city living. The proposed rebuild of the inner city calls for a new ‘dense, vibrant and diverse central hub’. Proposing the introduction of new residential units within the central city. However the placement of the low-rise housing in a key attribute of the rebuild, the eastern green ‘Frame’, diminishes its value as open green space. The proposed housing will also be restrictive in its target market and therefore the idea of a ‘vibrant’ inner city is difficult to achieve. This thesis acts as response to the planned rebuild of inner Christchurch. Proposing the creation of a model for inner city housing which provides an alternative option to the proposed housing and existing and ongoing suburban sprawl. The design options were explored through a design-led process were the options were critiqued and developed. The ‘final’ proposal is comprises of three tall towers, aptly named the Triple Towers, which condense the proposed low-rise housing from an 11000 square metre footprint to combined footprint of 1500 square metres. The result is an expansion of the publicly available green space along the proposed eastern frame of the city. The height of the project challenges the height restrictions and is provocative in its proposal and placement. The design explores the relationships between the occupants, the building, the ‘Frame’ and the central city. The project is discussed through an exploration of the architecture of Rem Koolhaas, Renzo Piano and Oscar Niemeyer. Rather than their architecture being taken as a direct influence on which the design is based the discussion revolves around how and why each piece of comparative architecture is relevant to the designs desired outcome.
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?
PHIL TWYFORD to the Minister for Building and Construction: Does he agree with Mainfreight founder and Chairman Bruce Plested that housing is a “social disgrace”, that the market cannot sort out this problem, and that real leadership and intestinal fortitude is needed now?
JONATHAN YOUNG to the Minister of Finance: What reports has he received on real after-tax wages rising in New Zealand?
CHRIS HIPKINS to the Minister of Education: Will she apologise on behalf of the Government for the flawed handling of the Canterbury school mergers and closures after the 2011 earthquakes; if not, why not?
ANDREW BAYLY to the Minister for Building and Construction: What progress has the Government made in improving the tenancy laws and guidance for dealing with the problem of methamphetamine testing and contamination?
CARMEL SEPULONI to the Associate Minister for Social Housing: What motels has the Government purchased in response to the increased emergency housing demand, and how much has this cost?
RON MARK to the Prime Minister: Does he stand by all his statements on the Clutha-Southland electorate office issue even if facts known to him make doing so extraordinarily difficult?
MAUREEN PUGH to the Minister of Corrections: How is Budget 2017 investing in rehabilitation and reintegration outcomes for offenders?
Hon DAVID PARKER to the Minister of Local Government: Does she agree with the Prime Minister’s answer yesterday that drinking-water contamination in Havelock North was “about local government performance and overseeing ratepayer-funded assets whose purpose is to deliver clean and healthy water to its local people. The extensive inquiry into that incident was warranted by widespread illness in the area ... it is about local body performance in overseeing their clean water system”?
BRETT HUDSON to the Minister of Local Government: What recent announcements has she made regarding Wellington’s resilience to natural hazards?
JULIE ANNE GENTER to the Minister of Transport: Will the Government start building rail to the airport sooner if Auckland hosts the next America’s Cup regatta or will Aucklanders still have to wait 30 years?
STUART NASH to the Minister of Police: Does she have any concerns about any of the results of the New Zealand Police Workplace Survey 2017; if so, what in particular?
ALASTAIR SCOTT to the Associate Minister of Education: What recent announcements has he made to improve school infrastructure in the Wairarapa?
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)
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DENIS O'ROURKE to the Minister for Canterbury Earthquake Recovery: Is he satisfied with progress on all aspects of the Canterbury earthquake recovery?
JACINDA ARDERN to the Minister of Police: Does she have confidence in the Police investigation of alleged sexual violation against young women and underage girls in West Auckland?
PAUL GOLDSMITH to the Minister of Finance: What progress has the National-led Government made in building a more productive and competitive economy capable of supporting more jobs and higher incomes for New Zealanders?
METIRIA TUREI to the Minister of Police: When was she first advised that Police had received a complaint from a girl who alleged she had been raped by members of a group calling themselves the Roast Busters?
Hon DAVID PARKER to the Minister for Communications and Information Technology: Will the Government enforce its broadband contract with Chorus?
CLAUDETTE HAUITI to the Minister for the Environment: What announcements has the Government made in relation to the national policy statement for freshwater?
PHIL TWYFORD to the Minister of Housing: What reports has he received on the effect of loan-to-value restrictions on the housing market?
Hon PHIL HEATLEY to the Minister for Social Development: What reports has she received about the number of people receiving benefits?
CAROL BEAUMONT to the Minister for Tertiary Education, Skills and Employment: How does women's participation rate of 1 percent in building and construction industry training assist with the Christchurch rebuild?
Dr CAM CALDER to the Minister of Education: What recent announcements has she made to strengthen the status of the teaching profession?
EUGENIE SAGE to the Associate Minister of Health: Does she agree with the Canterbury Medical Officer of Health that increasing nitrate levels in Canterbury groundwater are a health risk, particularly for pregnant women and babies; if not, why not?
HONE HARAWIRA to the Minister of Finance: What is his budget plan, if any, to immediately address growing poverty in New Zealand, which has got so bad that charitable organisations have today said they are expecting an influx of more than 40,000 struggling families for Christmas dinner because they can't afford to put food on the table?
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 “if you see house prices rising, you might say the Government needs to do more” and “we take responsibility, we need to do a better job of it”?
SARAH DOWIE to the Minister of Finance: What international reports has he received showing New Zealand’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, “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” 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 “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” 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’s statement that Treasury forecasts are “a load of nonsense, because they can’t get predications in 44 days right, let alone 44 years”?
ALFRED NGARO to the Minister for Building and Housing: What additional Auckland housing projects did he announce during last week’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?
Hon RUTH DYSON to the Minister for Greater Christchurch Regeneration: What progress has been made on the Crown’s Global Settlement with the Christchurch City Council for costs flowing from the Canterbury earthquake sequence? Hon PAUL GOLDSMITH to the Minister of Finance: Does he stand by all of his policies, statements, and actions? Hon JUDITH COLLINS to the Minister of Housing and Urban Development: Does he stand by his statement in response to a question on if he would meet his commitment to be a keynote speaker at the KiwiBuild summit on 24 June, “No, because I have two papers at Cabinet”, and did he take two papers to Cabinet on 24 June? GARETH HUGHES to the Minister of State Services: Does he support measuring and improving the energy efficiency of Government buildings, both leased and owned? Hon MICHAEL WOODHOUSE to the Minister of Health: Does he stand by his statement yesterday that “Yes, that will mean that we will have deficits that we wouldn’t want to see. That member and his Government under-invested in health for nine long years, and we will be investing ourselves for quite a period to set that right”; if so, when will he “set that right”? Dr DUNCAN WEBB to the Minister of Justice: What recent announcements has he made regarding community law centres? CHRIS BISHOP to the Minister of Transport: What will the percentage increase in the fuel excise duty and accompanying road-user charges be on Monday, 1 July, and what will be the total revenue raised from this increase? Hon TIM MACINDOE to the Minister for ACC: Does he stand by all of his answers during the Vote Labour Market Estimates hearing at the Education and Workforce Committee meeting on 12 June? Dr LIZ CRAIG to the Minister of Health: What, if anything, is the Government doing to better support the wellbeing of parents with mental health and addiction needs? Hon LOUISE UPSTON to the Minister for Women: How can she be responsible for eliminating the gender pay gap when the Ministry for Women’s gender pay gap has gone from 5.6 percent in favour of women to 6 percent in favour of men? JONATHAN YOUNG to the Minister of Energy and Resources: Does she stand by all her statements, policies, and actions? ANAHILA KANONGATA'A-SUISUIKI to the Minister for Pacific Peoples: How does Budget 2019 support Pacific peoples in Aotearoa New Zealand?
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.
