Investigating the macroeconomic determinants of RDP house prices in South Africa

Simple item page
dc.contributor.advisorPamburai, Hamutyinei Harveyen_ZA
dc.contributor.authorAvramis, Nicholasen_ZA
dc.date.accessioned2017-09-06T10:27:26Z
dc.date.available2017-09-06T10:27:26Z
dc.date.issued2017en_ZA
dc.description.abstractThe main purpose of this study is to investigate the relationship between macroeconomic variables and South Africa's affordable housing market using basic multivariate regression analysis. This paper empirically examines whether increases in RDP house prices can be explained by or attributed to the movements in gross domestic product (GDP), prime lending rate (RATE), the stock market (JSE) and inflation (CPI). As an exploratory paper in nature, data of RDP resales prices from eight major metropolitan cities in South Africa was collected from the Centre of Affordable Housing Finance (CAHF) for the period 2007 to 2015. The findings from the regression analysis show that only JSE is a key determinant of RDP housing prices in South Africa. Since there was no a statistically significant relationship that could be found between affordable housing price movements and GDP, RATE and CPI, this study suggests that hedonic variables should be used in future studies, as well as accounting for regional differences. Notwithstanding, since the resale of RDP homes is a new dimension in the real estate market and whose introduction is also still at its infancy in South Africa, an examination of the RDP home prices is important to the financiers (financial institutions), investors, housing authorities, the government and other interested stakeholders who might want to have an understanding of the factors that drive the prices of these homes in South Africa. The results from this study, therefore, play a role in informing these parties as they allow them to make better decisions in terms of whether to make financing available (financial institutions), policy formulation or direction (government) and whether to invest or sale (other stakeholders).en_ZA
dc.identifier.apacitationAvramis, N. (2017). <i>Investigating the macroeconomic determinants of RDP house prices in South Africa</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Research of GSB. Retrieved from http://hdl.handle.net/11427/25094en_ZA
dc.identifier.chicagocitationAvramis, Nicholas. <i>"Investigating the macroeconomic determinants of RDP house prices in South Africa."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Research of GSB, 2017. http://hdl.handle.net/11427/25094en_ZA
dc.identifier.citationAvramis, N. 2017. Investigating the macroeconomic determinants of RDP house prices in South Africa. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Avramis, Nicholas AB - The main purpose of this study is to investigate the relationship between macroeconomic variables and South Africa's affordable housing market using basic multivariate regression analysis. This paper empirically examines whether increases in RDP house prices can be explained by or attributed to the movements in gross domestic product (GDP), prime lending rate (RATE), the stock market (JSE) and inflation (CPI). As an exploratory paper in nature, data of RDP resales prices from eight major metropolitan cities in South Africa was collected from the Centre of Affordable Housing Finance (CAHF) for the period 2007 to 2015. The findings from the regression analysis show that only JSE is a key determinant of RDP housing prices in South Africa. Since there was no a statistically significant relationship that could be found between affordable housing price movements and GDP, RATE and CPI, this study suggests that hedonic variables should be used in future studies, as well as accounting for regional differences. Notwithstanding, since the resale of RDP homes is a new dimension in the real estate market and whose introduction is also still at its infancy in South Africa, an examination of the RDP home prices is important to the financiers (financial institutions), investors, housing authorities, the government and other interested stakeholders who might want to have an understanding of the factors that drive the prices of these homes in South Africa. The results from this study, therefore, play a role in informing these parties as they allow them to make better decisions in terms of whether to make financing available (financial institutions), policy formulation or direction (government) and whether to invest or sale (other stakeholders). DA - 2017 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2017 T1 - Investigating the macroeconomic determinants of RDP house prices in South Africa TI - Investigating the macroeconomic determinants of RDP house prices in South Africa UR - http://hdl.handle.net/11427/25094 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/25094
dc.identifier.vancouvercitationAvramis N. Investigating the macroeconomic determinants of RDP house prices in South Africa. [Thesis]. University of Cape Town ,Faculty of Commerce ,Research of GSB, 2017 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/25094en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentResearch of GSBen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherDevelopment Financeen_ZA
dc.titleInvestigating the macroeconomic determinants of RDP house prices in South Africaen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
thesis_com_2017_avramis_nicholas.pdf
Size:
2.61 MB
Format:
Adobe Portable Document Format
Description:
Download
Collections
Masters