Browsing by Author "Pienaar, Reinhardt"
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- ItemThe effect of minimum parking regulations on housing price and supply(Stellenbosch : Stellenbosch University, 2020-03) Pienaar, Reinhardt; Geyer, Herman; Stellenbosch University. Faculty of Arts and Social Sciences. Dept. of Geography and Environmental Studies,ENGLISH ABSTRACT: Housing affordability is one of the biggest challenges that cities around the world currently face. By reducing or removing unnecessary off-street parking regulations it is possible to lower the cost per unit and increase the amount of units in new housing development. This study focusses specifically on the effect of minimum parking regulation for residential properties in the City of Cape Town between the 2014/15 and 2018/19 financial years. The City of Cape Town recently incorporated zones partially and completely exempt from the minimum parking regulation. The effect of minimum parking regulations was tested by comparing the amount of new development applications between exemption and partial exemption zones with surrounding areas of similar size and location. The objective was to determine whether parking had an effect on the supply and price of new developments. The study found that most new developments take place outside of the PT1 and PT2 zones due to the small size of these zones compared to the entire City of Cape Town. However, when comparing the similarly sized buffer areas to that of the PT1 and PT2 zones it was found that almost double the amount of new developments took place within the PT1 and PT2 zones – meaning when a location is already decided upon it would make more sense to develop in the zones where regulation is slightly less. No significant change in the average price of development was observed due to the cost data being that of construction cost.