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The physical and societal characteristics of home have been established as important in influencing the health and wellbeing of older adults, yet these have rarely been explored together. There is also limited research into variation across age groups, with older adults often examined as a homogenous group of those 65 years and over. This study advances the knowledge base by using the concept of person–environment (P-E) fit to analyse differences in personal and home environment (physical and societal) characteristics between young-old (65–74 years) and old-old (75 and above) age groups, and to assess how these characteristics influence their self-perceived health. This cross-sectional study draws upon survey data from 1,999 older adult participants from the Australian Housing Conditions Dataset. Descriptive statistics and inferential analysis were used to assess for significant differences between age groups and a binomial logistic regression was utilised to examine influences on health. The analysis found that the factors which influence health varies appreciably between age groups. For the young-old financial strain, being on the fixed-income pension and hypertension were important contributing factors, in contrast for the old-old gender (being male), having depression and the home being modified for disability were key influences. For both age groups heart disease was a contributing factor to perceived health. The results indicate the important contribution to knowledge of incorporating a wide range of person and environment characteristics when exploring P-E fit for older adults. The inclusion of societal aspects, such as financial strain, fixed-income pension, tenure and access to community aged care services when exploring influences on health, arises as a key conclusion of the study. In terms of impact, this research is significant given rising inequalities globally and specifically in the Australian context, the need for policy measures to address income inequality, and its health and social implications for older households. [ABSTRACT FROM AUTHOR]

This paper examines the significant contribution that development sites make to total real estate transaction activity at a global, regional and country-specific level over 2007–2014. By assessing over 216,000 major real estate transactions worth in excess of $6.35 trillion, development sites are shown to account for over $2.0 trillion or 31.6% of global real estate transaction activity. Regional and country differences are highlighted, particularly in the Asia-Pacific emerging real estate markets, with the significance of development sites in China specifically highlighted. The analysis shows that China accounted for $1.6 trillion in development site transactions or 80% of development site transaction activity globally over 2007–2014, with development sites in China being a key catalyst to providing the urban infrastructure and fabric for China's future economic growth. [ABSTRACT FROM AUTHOR]

This paper is concerned with spatial effects of time on the market for residential property and time varying relationships using a dataset of properties from the Adelaide metropolitan area, Australia, during the period 2002–2011. The analysis firstly considers the spatial dependence in time on the market and secondly extends the analysis to a space-time model using 2SLS regression. The findings demonstrate the complexity in spatial analysis with results indicating a random distribution of time on the market in 86% of observations a pattern that is consistent over time. Spatial autocorrelation is shown to increase time on the market in the subject property while spatial error decreases time on the market in the subject property suggesting a high level of market transparency and improved liquidity. The compensating or nullifying effects of both types of spatial association is shown to contribute to the random distribution observed in time on the market. A strong explanatory capacity of the business cycle suggests that economic drivers are leading time on the market rather than prices. [ABSTRACT FROM AUTHOR]

The last two decades have experienced important and far-reaching changes to the retail landscape. In Australia, retail planning and management policies have sought to attract key players to particular sectors of the city thought to be most at risk of retail decline including CBD (central business district) locations. This study seeks to highlight the difficulty such strategies may face by quantifying the levels of retail investment into different locations. By mapping the direction retail investment has taken over time, the study explores the dichotomy which exists between the spatial dynamic of retail planning and retail investment in Australia. In conclusion, the analysis shows that, from an investment perspective, city centre locations are a much higher priced option and do not provide an excess return to justify the higher entry price. Should investment flows continue to be channelled away from these locations, the potential cycle of decline will be difficult to arrest and will pose major challenges for city planning authorities regarding the future vitality of city centres. [ABSTRACT FROM PUBLISHER]

Asking price has a fundamental influence on market behaviour and understanding how attributes affect the perceived price of housing. This paper employs a large database of houses from the Spanish housing market to estimate the role of attributes in asking price formation. STAR methodology and GLM with random effects are used to extract the price of attributes and the spatial and time pattern. Results show that the pricing of attributes varies by geographical region and over time with property size and economic and demographic attributes being the key variables explaining asking price formation. [ABSTRACT FROM PUBLISHER]

Abstract: Performance of cities is fundamental in growing the local economy by exploiting the opportunities for development and enhancing competitiveness. Cities engage in regeneration and business strategies linked to the property sector to advance their competitiveness. In this paper, a hierarchical model for city competitiveness linked to regeneration and business strategies is applied to five cities with different economic profile in India. The capacity of the model to evaluate the competitive performance of cities in emerging economies is assessed across three levels – cities, six operational components and 32 identified factors. The paper draws inferences concerning the linkages across regeneration strategies and property-led business strategies to advance the competitiveness of cities in India. [Copyright &y& Elsevier]

Abstract: This paper investigates the relationship between the list and sale price of residential properties over the housing cycle. In down or normal markets the list price generally exceeds the sales price; however, when the housing market is strong, homes sell for more than their list price. This observation is not consistent with the assumptions made in the standard model of home sellers’ search behavior. We consider alternative models. In one, sellers set list prices based on their expectations of future changes in sales prices and the arrival rate of buyers; however, demand shocks occur. This model partially explains our data from the Belfast, U.K. housing market, but it fails to predict the list to sales price ratio during a sustained housing boom. We next describe a model where sellers’ endogenously select their search mechanism depending on the strength of the housing market. We find support for the conjecture that sellers switch to an auction-like model during housing booms. There also is evidence that during a downturn in the market, sellers’ list prices are sticky. [Copyright &y& Elsevier]

Theoretical models of the house selling process have shown the number of bidders involved to be an important factor in explaining sales price; however, empirical models have not included specific variables capturing the dynamic process that occurs during time on the market (TOM). This paper addresses this gap by including explicit bidding variables, as well as TOM in a hedonic pricing model. The results confirm the importance of the number of bidders in understanding the direction of the relationship between price and TOM, identifying that the outcome of multiple bidder sales are more predictable than properties sold with a single bidder. [ABSTRACT FROM AUTHOR]

Multisector partnerships have become the central tenet of contemporary urban regeneration policy facilitating a new form of local participative governance. Consequently, neighbourhood renewal and the importance of ‘people’ and ‘places’ have encouraged the emergence of a new form of ‘community leader’ who is more in touch with the problems of local disadvantaged groups. This paper explores the issue of leadership within multisectoral urban regeneration partnerships, focusing on the formation of social capital, power relations and partnership synergy. Conclusions point to the synergistic and social capital benefits of partnerships and the role played by urban leadership in generating a collaborative network capable of achieving more than performance targets. [ABSTRACT FROM AUTHOR]

This paper examines the sustainability of current urban regeneration practice, through the application of weighted indicators and a points scoring framework. The analysis applies the hierarchical model discussed in the preceding paper of this journal issue to case studies of waterfront areas and cultural quarters in three European cities: Belfast, Dublin and Barcelona. The evaluation permits performance comparisons to be made between the case studies regarding the sustainability of regeneration areas and projects, variations on an indicator set basis and the sensitivity of scores. Conclusions are drawn concerning regeneration practice, the extent to which sustainability principles are adhered to, potential policy benefits and the applicability of the model. [ABSTRACT FROM AUTHOR]

The increasing interest in the potential use of fiscal incentives as a mechanism for stimulating urban renewal has been highlighted by a number of influential policy sources. This paper assesses the application and outcomes of tax-based incentives in urban regeneration, with particular focus upon the differing models represented by Dublin (Ireland) and Chicago (USA). Issues considered include utilisation of tax incentives, drawing-down of benefits, role of actor groups, ability to lever private-sector finance, impact on property market performance and wider economic influences. Conclusions advance the case for tax-based mechanisms as an instrument in the delivery of urban regeneration but stress the need for complementary structures to exploit fully the fiscal incentives. [ABSTRACT FROM AUTHOR]

This paper examines the conflicting outcomes of government intervention in the housing market with particular reference to taxation instruments. The use of fiscal policy as a demand-side measure within the Irish housing market is discussed. Outcomes include a high growth environment, unsustainable house price inflation and pressure on owner occupiers due to the activities of investors. The paper reviews policy mechanisms advocated under the Bacon Reports and the government's policy response notably in relation to stamp duty changes. The analysis seeks to assess the impact of the policy measures in relation to different housing markets and house types in Dublin. The discussion highlights that the short-term impact of legislative changes can be rapidly nullified by market influences. [ABSTRACT FROM AUTHOR]

The debate surrounding the sustainability of urban areas and the need to reduce dependency upon the car as the primary mode of transportation has rekindled interest in the relationship between accessibility, price and location of owner occupied housing. Traditionally, attempts at quantification have used hedonic analysis employing straight-line distance measurements to focal points such as the CBD as an indicator of accessibility. This paper focuses upon factors affecting the price structure of residential property in the Belfast Urban Area, examining the relative influence of property characteristics, socio-economic factors and the impact of accessibility. The model employs an accessibility index computed for each of 182 traffic zones and uses transaction data for a sample of 2648 residential properties sold during 1996. Results indicate that accessibility is of little significance in explaining variation in house prices at a city-wide scale but at a sub-market level, particularly in lower-income areas, accessibility can be an important influence. The analysis highlights the importance of investigation at a sub-market level and draws conclusions regarding the complexity of relationships within an urban area. [ABSTRACT FROM AUTHOR]

This paper analyses the margin between the Cash Rate Target and LIBOR, and its relationship with house price variation in Australia. The research spans 24 years utilising monthly data to analyse the relationship between Australian house price and LIBOR/CRT spreads. Data are drawn from several sources before the time series is sub-divided into splines forming different stages of the housing market cycle. Models are developed based upon differencing the data and employing ADF tests for stationarity and examination via an Autoregressive Distributed Lag approach and Error Correction Model based data series. Results show there are various macroeconomic, financial and lending short-run dynamics which impact on house prices. Cointegration is also evident, which shows the LIBOR rate to comprise both a shot-run and long-run relationship with house prices. The margin between the CRT and LIBOR is less significant and is only observed in the short-run. The various approaches clearly exhibit the dynamism inherent between the wider macroeconomic and financial environment, which serves to highlight that different drivers affect the housing market at differing magnitudes and at different times. Nonetheless, both the short-run and long-run findings show GDP and LIBOR to be proponents for understanding the sensitivity of house prices in Australia. [ABSTRACT FROM AUTHOR]

This paper begins by identifying the growth in female-headed households in Australia. Despite this increase, it is argued that females still lag males in terms of home ownership rates (HORs) with women in Australia facing similar ownership challenges as those experienced in the UK and the USA. In seeking to establish any dynamic change, the study analyses female home ownership rates in Australia for two points in time, 1998 and 2008. Logit models are used to predict HORs. The results indicate that factors such as household type, income and source of income have an impact on rates of ownership. The paper concludes that female-headed households in Australia show an increasing propensity to purchase which match, or even exceed, those of male-headed households. [ABSTRACT FROM PUBLISHER]

Urban regeneration has increasingly emphasised long-term policy objectives and public-private partnership arrangements where risk and profits are more equitably distributed between the parties. Similarly, successive governments have endorsed areabased regeneration vehicles with increasing importance placed on enterprise zones, business improvement districts (BIDs), tax incremental finance, and other local asset backed vehicles. Each regeneration vehicle necessitates a clear policy direction and performance measurement of its policy outputs to ensure that funding is targeted at initiatives delivering sustainability impacts. This paper presents a 'market' and 'nonmarket' appraisal of the financial impact of BIDs as an area-based regeneration vehicle. It utilises data from a UK-wide survey to demonstrate the potential of BIDs in generating direct income and indirect investment and how the output capacity of the BID model increases over time. The paper concludes that BIDs have significant leverage potential whilst acting as a key conduit for coordinating wider area-based regeneration. [ABSTRACT FROM AUTHOR]

Regional spatial planning in Northern Ireland is directly linked to the transition from conflict to peace, as identified in the Belfast Agreement of 1998. Political consensus, a rare commodity, was secured in the Northern Ireland Assembly for a regional development strategy (RDS), the first spatial planning document of its kind in the UK. This paper explores the deployment of collaborative planning in creating the RDS. Given Northern Ireland's divided socio-political context, the paper seeks to ascertain the influence on meaningful policy debate and strategy-making arising from the collaborative planning approach. The paper investigates the application of collaborative planning measures in Northern Ireland through an analysis of spatial policy relating to economic development. Evidence presented in this paper suggests that socio-political cohesion was given primacy above potentially contentious physical growth patterns necessary for regional economic development, the result of an inability by institutions to grapple with troublesome issues. [ABSTRACT FROM AUTHOR]

This paper evaluates the use of indicators as a means of measuring the performance of regeneration against sustainability criteria. The merits of sustainability indicators are explored with a discussion of the indicator selection process and the derivation of a points scoring framework. The extent to which the sustainability performance of regeneration projects can be evaluated and subsequently benchmarked is examined. Conclusions are drawn on the robustness of the indicators selected, the versatility of the points scoring framework in capturing the sustainability performance of regeneration projects and the potential to identify 'best' practice. The application of the model and associated indicators is the subject of the subsequent paper in this journal issue. [ABSTRACT FROM AUTHOR]

Business Improvement Districts (BIDs) have been widely adopted in the USA as a means of bringing about enhanced service provision and broader regeneration impacts, and interest is now turning to the use of such mechanisms in the UK. However, the fundamental differences between the administrative and social contexts of the USA and the UK mean that BIDs would have to be significantly adapted for application in the UK. Moreover, research conducted by the authors, using case studies of BIDs in Los Angeles, indicates that they can be problematic in operation. Nevertheless, BIDs offer a means of delivering limited objectives in relation to city centre renewal. [ABSTRACT FROM AUTHOR]

This paper is concerned with the role of planning enforcement. The theme is initially explored from a literature perspective examining the key developments in both the planning framework and enforcement legislation. The empirical investigation reports upon research conducted in Northern Ireland, drawing upon structured interviews with professional planners, assessing enforcement case material and investigating non-compliance with planning conditions. The results from these three strands of the research provide lessons for enforcement practice and procedure in the rest of the UK. A number of key problem areas are highlighted which should be addressed through consideration of alternative theoretical perspectives, a co-ordinated approach to enforcement practice, appropriate training programmes for personnel, and the enactment of innovative legislative mechanisms. [ABSTRACT FROM AUTHOR]

Attracting investment and finance into inner-city and other renewal areas poses particular difficulties and is frequently reliant on strong public-sector commitment through special incentives or other mechanisms to provide the conditions to lever private-sector activity. This paper initially links the concept of market failure and the rationale for regeneration and examines policy responses from UK, European and US perspectives, followed by a consideration of public- and private-sector financing approaches. International perspectives draw particularly upon the use of tax-based mechanisms in regeneration--notably, those used in the US. In the European context, the paper highlights implications for regeneration stemming from the in terpretation of State Aid rules and competition policy. Conclusions reflect upon the complexity of regeneration and the importance of the different stakeholders within the regeneration process. [ABSTRACT FROM AUTHOR]

As a major gateway city to eastern Europe, Warsaw has been subject to a significant level of international real estate investment and development activity in support of the regional functions of trans-national corporations as well as access to the large Polish domestic market. As a result the city has undergone major transformation since the early 1990s with large-scale office and retail developments in the city centre as well as out of town locations. This paper considers city institutional capacities and policy responses in the face of these changes, particularly in respect of nurturing and channelling international investment and development activity. As such the paper utilises the results of fieldwork interviews and focus group discussions involving a range of public/private and local/international actors in urban planning as well as property development and investment activities. The research stems from an ESRC funded project that evaluates globalisation of real estate markets and urban development in the capital cities of central Europe. [Copyright &y& Elsevier]

This paper examines the urban development process in post-socialist cities of Budapest, Prague and Warsaw in the context of economic globalisation and societal transformation. Several factors have helped to shape the post-socialist cities of central Europe since the end of the 1980s. These include political transformation, economic change, restitution, privatisation, price liberalisation and decentralisation of local government. It is argued that local government administrative and planning structures have been ill prepared in meeting the requirements of international investment capital in a co-ordinated and effective manner. Institutional constraints has promoted an organic form of urban development primarily determined through the international demand for, and supply of, commercial and retail space. [ABSTRACT FROM AUTHOR]

Devolution within the UK has produced new systems of governance within Scotland and Wales and restored to Northern Ireland local accountability following three decades of direct administration. The paper reviews the different status of Northern Ireland to provide both an understanding of the context in which planning has been set and the new structures that are taking shape. Particular focus is placed upon the ambitious mechanisms underlying the Agreement between the political parties in the province. The paper discusses how planning issues and responsibilities have moved from one highly centralized government department pre-devolution to effectively three new departments thereby providing a test not only of joined-up governance but of the ability of the new devolved structures to work effectively. Challenges posed by the different competencies are debated and emerging issues are discussed in terms of coherent planning at regional, subregional and local levels. [ABSTRACT FROM AUTHOR]

The financing of urban regeneration and levering of private-sector investment remains a major policy issue. This article, utilising the results of a behavioural survey, analyses the motivations of investors and their participation across a range of regeneration initiatives. The pattern of investment activity over the market cycle, reasons for holding an urban regeneration portfolio, evaluative factors and perspectives concerning the attraction of private finance into urban regeneration are considered. The findings indicate that regeneration initiatives provide a significant cushioning effect but that, in terms of holding projects in a property portfolio or evaluating schemes, market-based factors relating to return and risk are core influences. [ABSTRACT FROM AUTHOR]

In many societies, perceptions regarding housing and ownership rights is that it is mostly consigned to males rather than females. Housing is gendered around physical aspects, as a financial asset, and even in housing data to be a male preserve – excluding females and their perceptions. This important paper addresses this limitation in the literature by examining the views and perceptions of female participants in the Australian Housing Conditions dataset. More specifically this paper examines the significance of household structure, housing quality and characteristics of Australian woman and how it affects their financial strain. As a further dimension this paper also examines differences in women's housing experience by age as older Australian women (above 65 years) have a higher likelihood to revert to substandard housing conditions and homelessness than younger Australian women (under 65 years). Logistic regression analysis shows a higher tendency towards financial strain in women under 65 years, those with either poor physical or mental health and those who were single or lone parents. These finding propose that women under 65 are at greater risk to experience household financial strain and poorer housing security. The paper argues that these results present challenges for Australian housing policy through increasing housing affordability. The analysis suggests that an increase in the availability of affordable housing will ease the financial strain and improve the mental health of Australian women. Moreover, an increase in the flexibility of housing arrangements may prove to be beneficial in providing additional housing solutions. • We examine housing perceptions through a female lens as housing in mainstream literature is gendered to be a male preserve. • The analysis uses the Australian Housing Conditions Dataset to determine the significance of housing to Australian women. • It also examines a further dimension by age. • The real issue is that women under the age of 65 are at greater risk to experience household financial strain. • Government should adapt housing policy by increasing housing affordability to accommodate the vulnerable. [ABSTRACT FROM AUTHOR]

Ageing populations in the Western World over the last few decades have necessitated the development of financial products to assist older people face the challenges of ageing. One such product is the reverse mortgage where homeowners unlock the equity in their residential property through a mortgage loan, secured over the property. These loans normally have no mortgage payments and are aimed at an older demographic. Such mortgages have been increasing in popularity in the United States and the United Kingdom, but growth in Australia's reverse mortgage market has been slow and the majority of financial institutions that once offered such mortgages have left the market. The purpose of this article is to explore reasons for this observation. To achieve this purpose, 31 people aged 65 and older were interviewed about their views on reverse mortgage and analysed using nVivo. Analysis showed that reverse mortgages are unpopular due to strongly negative views about the product itself and perceived the risks associated with them due to the debt and potential loss of assets as well as high interest and charges. While some participants would not enter a reverse mortgage due to a desire to pass on an estate to children, others were ambivalent about this. While this negativity may be overcome through a redesign aimed toward reducing these perceived risks, inherent characteristics as a debt instrument suggest that reverse mortgages are unlikely to be attractive, to the current generation of people aged over 65. [ABSTRACT FROM AUTHOR]