Peter Tulip is the author of two RBA research discussion papers that have shined a spotlight on the significant impact of zoning and planning regulation on the price of housing.
In August 2020, he and Keaton Jenner wrote ‘The Apartment Shortage’ which measured the excess demand for apartments in Australia’s largest cities. Peter measured what prices homebuyers are prepared to pay for a new apartment and the costs incurred to supply those apartments in Sydney, Melbourne and Brisbane. He found the gaps between costs and prices of apartments can be attributed to planning restrictions. In March 2018, Peter and Ross Kendall wrote ‘The Effect of Zoning on House Prices’ which examined the impact of zoning regulations on housing supply and prices. Their paper quantified the role of zoning by comparing prices to the marginal costs of supply at different points in time.
Both papers have attracted significant criticism from planners, academics and local government. Members interested in this research should attend to hear Peter’s controversial economic arguments about housing supply.
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