Research conducted to PhD level investigates consumer behaviour in the valuation of residential property. The research, which utilises a qualitative methodology, is conducted on a cross-national comparative basis in the United Kingdom, Ireland and Australia. Initially the behaviour of residential homebuyers' is explored with personal interviews conducted with residential homebuyers in the three countries. Consumers' reaction to demand-related factors is investigated with further work considering valuers' and whether they display any obvious differences in practice to reflect differences in buyer perception. Specifically, economic and financial sustainability is considered in terms of the residential valuation process used by valuers, who are employed by the main mortgage lenders in the countries studied. Economic sustainability features highly in the home buying decision-making process used by residential homebuyers in Australia. Whether buyers behave similarly across the three countries is investigated as is the behaviour displayed by valuers in terms of buyer perceptions. The research adopts a qualitative approach utilising personal interviews as its main research instrument. Generally, in the past comparative research has been qualitatively oriented, as it is not normally involved in testing theory. Rather it is designed to generate and/or apply theory that is then interpreted. The use of videoconferencing in the data collection process is also reported. The practical and educational implications arising from the research are discussed with the opportunity for further research arising from the study outlined.

Consumer Behaviour in the Valuation of Residential Property: A Comparative Study in the UK, Ireland and Australia

The determinants of renewable energy usage intentions using theory of planned behaviour approach

The real estate sector is receiving mix responses throughout the world, with some countries like USA receiving lesser and European and Asia Pacific markets receiving more transactions in recent years. Among the concerning factors, post-purchase regrets by the real estate owners or renters are on the rise, which have never been assessed to date through scholarly research. These regrets can further increase in the time of lockdowns and bans on inspections due to Corona Virus Disease 2019 (COVID-19) and social distancing rules enforced by various countries such as Australia. The current study aims at investigating the key post-purchase regret factors of real estate and property owners and renters over the last decade using published literature and online threads. Based on pertinent literature, 118 systematically identified and text-mined articles, and four online threads with 135 responses, the current study develops system dynamics models to assess and predict the increase in consumers’ regrets over the last decade. Further, a user-generated thread with 23 responses involving seven real estate managers and five agents with more than 20 years of experience, 10 buyers with at least three successful rentals or purchases, and a photographer with more than 10 years of experience, is initiated on five online discussion platforms whereby the respondents are involved in a detailed discussion to highlight the regret reasons specific to real estate purchases based on online information. General architecture for text mining (GATE) software has been utilised to mine the text from both types of threads: Published and user generated. Overall, the articles and threads published over the last decade are studied under two periods: P1 (2010–2014) and P2 (2015–2019) to highlight the post-purchase or rent-related regret reasons. The results show that regret levels of the real estate consumers based on published post-purchase data are at an alarmingly high level of 88%, which compared to 2015, has increased by 18%. Among the major cited reasons, complicated buy–sell process, lack or accuracy of information, housing costs, house size, mortgages, agents, inspections, and emotional decision making are key reasons of regret. Overall, a total of 10% and 8% increases have occurred in the regrets related to the buy–sell process and lack of inspections, respectively. On the other hand, regrets related to agents and housing costs have decreased drastically by 40% mainly due to the good return on investments in the growing markets. However, based on the current trend of over reliance on online information and more powers to the agents controlling online information coupled with lack of physical inspections, the situation can change anytime. Similarly, lack of information, housing size, and mortgage-related regrets have also decreased by 7%, 5%, and 2%, respectively, since 2019. The results are expected to encourage policy level changes for addressing the regrets and uplifting the real estate industry and moving towards a smart and sustainable real estate sector. These results and pertinent discussions may help the real estate decision makers to uplift the current state, move towards a smart real estate, and avoid futuristic regrets, especially in the COVID-hit environment where most of the industries are struggling to survive. Careful attention is required to the top regret factors identified in the study by the real estate managers, investors, and agents to pave the way for a more managed real estate and property sector whereby the consumers are more satisfied with the value they receive for their money. This win–win situation will enhance the property business and remove the stigmas of intentional and deliberate withholding of information by managers and agents from the property and real estate sectors that can help boost the business through more purchases and satisfaction of its customers.

/pdf/key-factors-influencing-purchase-or-rent-decisions-in-smart-2yb57k2mfz.pdf

Key Factors Influencing Purchase or Rent Decisions in Smart Real Estate Investments: A System Dynamics Approach Using Online Forum Thread Data

The impact of informational, social, convenience and financial tools on waste sorting behavior: Assumptions and reflections of the real situation.

Do positive aspects of renewable energy contribute to the willingness to pay more for green energy

Houses made ready by housing developers in Sabah are solely based on economic factors as oppose to consumers preferences and interest. A better understanding of factors contributing to decision-making of buyers in real estate markets would be beneficial to both buyers and housing industry. Therefore, this study aims to understand consumer behaviour towards house purchase using The Theory of Buyer Behaviour Model (Perceptual and Output). The perceptual constructs consist of housing attributes such as house features, living space, distance and environment. The output construct refers to house purchase intention. Exogenous variables of the model are superstition-numbers, superstition-ghosts, developer brand and financing. The objective of this study is to examine the influence of housing attributes on house purchase intention. Based on 235 working adult respondents, findings indicated that house features, financing, distance, environment and superstition-numbers have significant positive relationships with house purchase intention. In addition, implications of the studies for several stakeholders are also discussed.Keywords: Housing Attributes, Theory of Buyer Behavior Model, House Purchase Intention, Sabah

/pdf/understanding-factors-that-influence-house-purchase-3dv1x7i7l1.pdf

Understanding factors that influence house purchase intention among consumers in kota kinabalu : an application of buyer behavior model theory

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Understanding factors that influence house purchase intention among consumers in kota kinabalu : an application of buyer behavior model theory