Abstract
Real estate market stability in a biosphere reserve
Proceedings of the 24th Pacific Rim Real Estate Society Conference
Pacific Rim Real Estate Society Conference: Property research for our changing world, 24th (Auckland, New Zealand, 21-Jan-2018–24-Jan-2018)
2018
Abstract
Purpose:The Great Sandy Biosphere and Noosa Biosphere Reserves share a vision to build thriving societies in harmony with the environment. As part of a community living sustainably, in harmony with nature, real estate owners may be less inclined to move home leading to a more stable residential market. That said the stability of real estate markets in Biosphere Reserves has not been explored empirically. Design/methodology/approach: This paper presents a comparative analysis of sales records from four tourism orientated coastal communities within commuting distance of Brisbane, Queensland. Two of the communities are positioned within UNESCO designated Man and the Biosphere Reserves. The comparative analysis primarily focuses on transaction prices and volumes during a study period of eleven and a half years. Findings: The findings present a difference between the distributions of sales per period for the four communities. This research has found the suburbs situated in a Biosphere Reserve to have relatively less multiple sales during the study period. As such the emerging findings appear to support the notion that residents in the Great Sandy and Noosa Biosphere Reserves are less inclined to sell their home and relocate. Originality/value: This research presents as an initial exploration toward investigating the stability of real estate markets in Biosphere Reserves. Further research across the world network of Biosphere Reserves may lead to greater understanding of market stability in Biosphere Reserves. That said, an enduring question might relate to if it is the designation that encourages real estate market stability.
Details
- Title
- Real estate market stability in a biosphere reserve
- Authors
- Steven Boyd (Author) - University of the Sunshine Coast - Faculty of Arts, Business and Law
- Publication details
- Proceedings of the 24th Pacific Rim Real Estate Society Conference
- Conference details
- Pacific Rim Real Estate Society Conference: Property research for our changing world, 24th (Auckland, New Zealand, 21-Jan-2018–24-Jan-2018)
- Publisher
- Pacific Rim Real Estate Society (P R R E S)
- Date published
- 2018
- Copyright note
- Copyright © 2018 The Author. Reproduced here with kind permission.
- Organisation Unit
- University of the Sunshine Coast, Queensland; USC Business School - Legacy
- Language
- English
- Record Identifier
- 99451409102621
- Output Type
- Abstract
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