A microstructural analysis of housing renovation decisions in Brisbane, Australia

Ti-Ching Peng

New Zealand Economic Papers, 2013, vol. 47, issue 2, 158-187

Abstract: Housing studies have rarely discussed the emotional aspect of the householder's decision to renovate his house. It is proposed in this paper that, besides the fundamental factors considered in the previous literature, the social and psychological factors derived from sociology and behavioural economics may enrich the study of renovation decisions. Based on the primary data of residents in Brisbane, the empirical results demonstrate that a householder's renovation decision is related both to fundamental factors and to psychological factors. For example, a homeowner's likelihood of undertaking renovations is highly related to his perception of his own performance in undertaking renovation.

Date: 2013
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DOI: 10.1080/00779954.2012.704667

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