School of Construction Economics and Management (Conference Proceedings)
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Browsing School of Construction Economics and Management (Conference Proceedings) by SDG "SDG-11: Sustainable cities and communities"
Item The 'Massive, Little' Houses: 'Prefabs', A Solution for Informal Settlement Housing Crisis in South Africa! A Scoping Review(Construction Business and Project Management Group, University of Cape Town, 2024-08-27) Simbanegavi, Prisca; Weaich, Malcolm; Adewunmi, Yewande; Ndlovu, Pride; Gethe, FarananiUnlike most continents, Africa still grapples with urban informality, where housing shortages affect most people living in substandard conditions. Prefabricated housing (PH) presents an alternative option that provides a quicker and cheaper housing supply, although it currently lags behind demand. This paper examines whether 1) informal settlements can be upgraded using prefabricated/modular houses, 2) these housing types are desirable to occupants, and 3) alternative houses should receive as much emphasis and policy support as possible, particularly considering the challenges experienced during the COVID-19 pandemic. Based on a comprehensive literature survey utilising a scoping review methodology, the paper indicates that stakeholders such as developers, financiers, and occupants of prefabricated housing increasingly embrace PH despite its challenges. The literature unanimously agrees that substantial efforts are required to catalyse more investment in PH regarding further research, education, supply chain improvements, and enhanced communication and collaboration among industry stakeholders. Additionally, numerous research gaps need addressing, including in-depth examinations of PH's contextual feasibility and performance across different geographical areas. The paper recommends that South African governments adopt PH as an alternative housing solution, as it is faster and cheaper, thereby aiding in achieving the 2030 Sustainable Development Goal 11.Item The Impact of Inflation on House Prices in South Africa: Effects of COVID-19(University of the Witwatersrand, Johannesburg, 2024-07-30) Mpofu, Bekithemba; Simbanegavi, Prisca; Moobela, Cletus; Weaich, MalcolmThis study investigates the impact of inflation on house prices in South Africa, with a particular focus on the effects of the COVID-19 pandemic. The research aims to elucidate the nature of the relationship between inflation and housing, and to determine how the pandemic has influenced this dynamic. Utilising monthly data from January 2010 to April 2022, the study employs Johansen cointegration and Granger causality tests to assess long-term and causal relationships, respectively. The findings confirm a positive long-term relationship between house prices and inflation, indicating that housing serves as an effective hedge against inflation. However, the results also reveal structural breaks in this relationship, with significant changes observed during the COVID-19 period. The Vector Error Correction Model (VECM) highlights short-run adjustments and the speed of return to equilibrium. This study provides valuable insights for investors and policymakers, demonstrating the resilience of housing investments during economic disruptions and underscoring the importance of considering regional and temporal factors in real estate investment strategies.