Student Number : 9709049J -
MSc research report -
School of Construction Economics and Management -
Faculty of Engineering and the Built Environment / Spiralling violent crime in South Africa has led to the increased use of access
control to restrict access to suburbs and thus make it more difficult to
perpetrate violent crime against residents. This neighbourhood enclosure
normally takes the form of booms, palisade fences and security guards to
close off entire suburbs that were once or still are public property. This study
examines the effect of the implementation of neighbourhood enclosure on
property values. The primary methodology used to research this concentrated
on the analysis of residential property values, bond approvals and relative
amounts of property transferred within the period of late 2002 and mid 2004.
Analysis was based on information available at the deed’s office. Limitations
included the small sample size and the availability of information. Applicants
for suburban closures can use the results of the study to verify or discredit
claims of property value increases. Municipalities can match property values
to services and rates.
Results showed that property values that were found to be either similar in
adjacent open and enclosed areas or more expensive in enclosed areas. The
latter trend was evident in higher value properties. This illustrates a higher
demand for properties in these enclosed areas than in the adjacent open
areas. Further analysis of prices showed that, in all cases over the same
period, prices increased by more in enclosed areas than in open areas. This
statistic proves the hypothesis, that neighbourhood enclosure increases the
value of properties within the enclosure when compared to similar properties
in adjacent open areas. Analysis of the value of bonds granted in an area
showed that banks appear to ignore the enclosure status of the immediate
area.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:wits/oai:wiredspace.wits.ac.za:10539/1793 |
| Date | 16 November 2006 |
| Creators | Altini, Gaetano Riccardo |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | 11165 bytes, 325843 bytes, 22071 bytes, 304641 bytes, application/pdf, application/pdf, application/pdf, application/pdf, application/pdf, application/pdf, application/pdf, application/pdf |
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