Exploring the Impact of the Recession on British Volume Housebuilders: A Behavioural Analysis

Payne, Sarah

doi:10.2148/benv.41.2.271

Cited by 12 publications

(27 citation statements)

References 36 publications

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“…Until 2015, the UK had a mix of policies supporting the lowenergy housing transition (Kern et al, 2017), but key policy objectives were removed in 2015; including the aspiration for zero-carbon new houses and support for the able-to-pay households to undertake energy efficiency improvements (Rosenow and Eyre, 2016). The 2008 financial crisis affected the availability of mortgages (Martin, 2011) and impacted negatively on the construction sector, resulting in a further drop of new built houses (Payne, 2015) that had already been decreasing since 1980 (impacted by, for example, the early 1990s recession and subsequent housing crisis (Gentle et al, 1994). In 2015, 152,440 new houses were built, a 40% reduction compared to 1980 (ONS, 2016).…”

Section: Challenges Of Developing Low-energy Housingmentioning

confidence: 99%

Role of knowledge and policies as drivers for low-energy housing: Case studies from the United Kingdom

Martiskainen

Kivimaa

2019

Journal of Cleaner Production

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Section: Challenges Of Developing Low-energy Housingmentioning

confidence: 99%

Role of knowledge and policies as drivers for low-energy housing: Case studies from the United Kingdom

Martiskainen

Kivimaa

2019

Journal of Cleaner Production

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“…In its place is usually a neoclassical expectation that a supply response is both inherent to demand side interventions and will yield appropriate housing production. This a priori supply response from demand-side stimuli hides the complexities of actor agency and organisational behaviour that has been shown in recent research to influence housing supply outcomes (Payne, 2015(Payne, , 2013.…”

Section: Understanding Housing Supply Constraintsmentioning

confidence: 85%

“…Their conclusive assumption that this question can only be addressed by models of oligopoly and risk (ibid. ) underplays what more recent research emphasises as the complex organisational decision-making processes that developers adopt in response to market dynamics and policy change Barker, 2018, 2015;Payne, 2015Payne, , 2013.…”

Section: Understanding Housing Supply Constraintsmentioning

confidence: 98%

Advancing understandings of housing supply constraints: housing market recovery and institutional transitions in British speculative housebuilding

Payne

2019

Housing Studies

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The vicissitudes and volatilities of recent housing market cyclicality have restructured, reconfigured and reorganised housing systems and their supply demand characteristics. Surprisingly little attention has been paid to (re)examining supply side outcomes, much less the influencing effect of supply behaviour in response to demand-side change and their interactions. Indeed, one of the biggest unanswered questions in housing studies today is how supply side characteristics, specifically those of speculative housebuilders, have been affected by the turbulent, transitionary context presented by the global financial crisis. Addressing the gap, this paper presents a novel analysis of how Britain s biggest housebuilders respond to significant institutional shock in their operating environment and considers how this enables and constrains housing supply outcomes in the post-recession context.

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“…Beyond the technical feasibility issues highlighted by housebuilders as a cause for resisting non-conventional forms of design and construction, the research also revealed that the global financial crisis and recessionary experience (see Payne 2015), together with the ongoing uncertainty in the macroeconomy, skills and materials markets and mortgage finance markets, had further dampened housebuildersÕ strategic, design and technical ambitions around carbon reduction. For housebuilders, this institutional turbulence had amplified the prevailing viability issues associated with delivering policy-compliant product and process innovations.…”

Section: òéI Donõt Have a Problem With Ité By A Simple Calculation I mentioning

confidence: 98%

Carbon regulation and pathways for institutional transition in market-led housing systems: A case study of English housebuilders and zero carbon housing policy

Payne

Barker

2018

Environment and Planning E: Nature and Space

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In this paper, we argue that current research on carbon regulation neglects the complex interactions of institutional norms and market behaviour that characterise responses to regulatory change. We draw on empirical research undertaken with English housebuilders and housing market stakeholders to examine how transitional pathways toward a low carbon housing future might be advanced and consider the implications of such for carbon regulation and low carbon economies. Our core proposition is that carbon regulation research can no longer ignore the impact of institutionally-constituted market behaviour in shaping pathways and transitions towards low carbon futures. 1.! IntroductionThe growth of global concern over the anthropogenic impacts of climate change has done much to narrow the focus of environmental concern from the broad idealism of sustainable development to a preoccupation with the management of carbon cycles. The challenge that lies ahead is a significant one. According to Kennedy and Sgouridis (2011) addressing planetary CO2 limits (stabilisation of 350 parts per million) will require the developed world to cut carbon emissions by around 95%. Whilst there is evidence of a slowing in overall global emissions (DECC, 2016) certain regions remain dominant sources of CO2 production and have, as a result, had to review the efficacy of interventions centred on carbon efficiency. In the latest update published by the EUJRC (2015), the EU was found to account for 10% of global outputs with the US and China accounting for 15% and 30% respectively. The main focus of attention within these regions has, unsurprisingly, been on the built environment (Gill et al., 2007;Bulkeley et al., 2010;Chavez and Ramaswami, 2011;Hodson et al., 2013;Carter et al., 2015). Rydin (2013) attributes this not only to the potential impact that decisions regarding design and construction of individuals buildings might have on carbon reduction, but also the role played by urban layout and associated travel choices.In response, a persuasive body of literature has emerged which has attempted to indicate the contribution that specific modes of intervention might achieve within the built environment 2 (see for example: Pataki et al., 2006;Dhakal and Betsill, 2007;Metz et al., 2007;Shukla et al., 2008;Dhakal, 2010; Li et al., 2010;Feng et al., 2013). This work has contributed to the modelling of carbon futures through the use of scenario-based tools and has identified the range of technical solutions that might ease the carbon crisis. In parallel, state-level actors have advanced a plethora of regulatory and policy-based mechanisms geared towards meeting ambitious reduction targets to be delivered by non-state actors (Bailey and Wilson, 2009;Geels, 2014). To a certain extent, these trends represent a positive move towards addressing climatic impacts, yet they also raise important questions about realisation and effectiveness. We argue that one of the problems of achieving a low carbon economy is that much of the language of carbon red...

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Exploring the Impact of the Recession on British Volume Housebuilders: A Behavioural Analysis

Abstract: The 2008/9 recession had a pronounced impact on the financial performance, stability and output of Britain's volume housebuilders, leading to a historic decline in new housing supply.

Cited by 12 publications

References 36 publications

Role of knowledge and policies as drivers for low-energy housing: Case studies from the United Kingdom

Role of knowledge and policies as drivers for low-energy housing: Case studies from the United Kingdom

Advancing understandings of housing supply constraints: housing market recovery and institutional transitions in British speculative housebuilding

Carbon regulation and pathways for institutional transition in market-led housing systems: A case study of English housebuilders and zero carbon housing policy

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