The effect of the Nelson Mandela Bay Stadium on surrounding house prices: a hedonic analysis
- Authors: Fernandes, Gladys Nicola
- Date: 2013
- Subjects: Housing -- Prices -- South Africa -- Port Elizabeth , Stadiums -- Economic aspects -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9026 , http://hdl.handle.net/10948/d1020216
- Description: Sports facilities increasingly feature amongst the most expensive development projects world-wide. One such facility includes world-class stadia. Such facilities tend to commit a considerably large amount of a country's public funds to the project. This public expenditure on new stadia, and the required public taxation, may be economically justified if the benefits from the new stadia outweigh the costs. 15 May 2004 saw South Africa winning the bid to host the FIFA 2010 Soccer World Cup tournament. This mega-event was played in 10 stadia across nine chosen host cities. Five of these stadia were newly constructed, while the other five needed upgrading. Both South Africa's national government and local governments of host cities bore the expenses of the new stadia construction and the upgrading to the existing stadia. This amounted to a total public expenditure of R13.5295 billion on the stadia alone. The Nelson Mandela Bay Stadium on the banks of the North End Lake in Port Elizabeth was amongst the five newly constructed stadia costing R1.7 billion. Many international studies have been conducted to assess the impact of new stadia on the economies of host cities. One particular aspect which has received a lot of attention as far as empirical research is concerned is the impact of stadia on residential property prices (Carlino & Couslon, 2004; Davies, 2005; Tu, 2005; Coates & Humphreys, 2006; Ahlfeldt & Maennig, 2007, 2010; Dehring, Depken & Ward, 2007; Feng & Humphreys, 2008, 2012; Kavetsos, 2010; Ahlfeldt, Maennig & Scholz, 2010; Kiel, Matheson & Sullivan, 2010; Ahlfeldt & Kavetsos, 2011; Coates & Matheson, 2011). The majority of the studies conducted have indicated that the presence of a new stadium in an area has a significantly positive effect on surrounding house values that decays with distance from the facility. As no study has yet been done in South Africa to investigate the impact of the announcement of the construction of new stadia on nearby residential property values, this study examines, by means of the hedonic pricing model, the effect of the announcement to construct the Nelson Mandela Bay Stadium on the banks of North End Lake on adjacent residential property values. The study period for this study was 2004 - 2006. This time period captured the stadium announcement effect. The residential properties in North End that were traded at least once during the period 2004 to 2006 made up the target population. According to the South African Property Transfer Guide (SAPTG), a total of 417 property transactions (excluding repeat sales) took place over the study period (2004 - 2006). The 417 transactions were deemed to be the size of the target population and a list of 100 property transactions were used as the sampling frame. As the study period was from 2004 - 2006, it was necessary to adjust the market prices to constant 2006 prices. For this purpose, data from the Port Elizabeth and Uitenhage section of the ABSA house price indices were used so as to eliminate any inflationary effects on the property values over the study period. The results of the study revealed that the stadium has a statistically significant positive effect on adjacent residential properties situated within a 1 200 metres radius from the stadium. The average owner of a residential property in North End would be willing-to-pay between R10 7898 and R11 704.6 to be situated 435 metres closer to the stadium.
- Full Text:
- Date Issued: 2013
- Authors: Fernandes, Gladys Nicola
- Date: 2013
- Subjects: Housing -- Prices -- South Africa -- Port Elizabeth , Stadiums -- Economic aspects -- South Africa -- Port Elizabeth
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:9026 , http://hdl.handle.net/10948/d1020216
- Description: Sports facilities increasingly feature amongst the most expensive development projects world-wide. One such facility includes world-class stadia. Such facilities tend to commit a considerably large amount of a country's public funds to the project. This public expenditure on new stadia, and the required public taxation, may be economically justified if the benefits from the new stadia outweigh the costs. 15 May 2004 saw South Africa winning the bid to host the FIFA 2010 Soccer World Cup tournament. This mega-event was played in 10 stadia across nine chosen host cities. Five of these stadia were newly constructed, while the other five needed upgrading. Both South Africa's national government and local governments of host cities bore the expenses of the new stadia construction and the upgrading to the existing stadia. This amounted to a total public expenditure of R13.5295 billion on the stadia alone. The Nelson Mandela Bay Stadium on the banks of the North End Lake in Port Elizabeth was amongst the five newly constructed stadia costing R1.7 billion. Many international studies have been conducted to assess the impact of new stadia on the economies of host cities. One particular aspect which has received a lot of attention as far as empirical research is concerned is the impact of stadia on residential property prices (Carlino & Couslon, 2004; Davies, 2005; Tu, 2005; Coates & Humphreys, 2006; Ahlfeldt & Maennig, 2007, 2010; Dehring, Depken & Ward, 2007; Feng & Humphreys, 2008, 2012; Kavetsos, 2010; Ahlfeldt, Maennig & Scholz, 2010; Kiel, Matheson & Sullivan, 2010; Ahlfeldt & Kavetsos, 2011; Coates & Matheson, 2011). The majority of the studies conducted have indicated that the presence of a new stadium in an area has a significantly positive effect on surrounding house values that decays with distance from the facility. As no study has yet been done in South Africa to investigate the impact of the announcement of the construction of new stadia on nearby residential property values, this study examines, by means of the hedonic pricing model, the effect of the announcement to construct the Nelson Mandela Bay Stadium on the banks of North End Lake on adjacent residential property values. The study period for this study was 2004 - 2006. This time period captured the stadium announcement effect. The residential properties in North End that were traded at least once during the period 2004 to 2006 made up the target population. According to the South African Property Transfer Guide (SAPTG), a total of 417 property transactions (excluding repeat sales) took place over the study period (2004 - 2006). The 417 transactions were deemed to be the size of the target population and a list of 100 property transactions were used as the sampling frame. As the study period was from 2004 - 2006, it was necessary to adjust the market prices to constant 2006 prices. For this purpose, data from the Port Elizabeth and Uitenhage section of the ABSA house price indices were used so as to eliminate any inflationary effects on the property values over the study period. The results of the study revealed that the stadium has a statistically significant positive effect on adjacent residential properties situated within a 1 200 metres radius from the stadium. The average owner of a residential property in North End would be willing-to-pay between R10 7898 and R11 704.6 to be situated 435 metres closer to the stadium.
- Full Text:
- Date Issued: 2013
Seasonal changes in the heat production of an African small mammal, Rhabdomys pumilio
- Authors: Welman, Shaun
- Date: 2012
- Subjects: Mice -- Physiology Body temperature -- Regulation
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10948/21417 , vital:29514
- Description: Endothermy refers to the ability of an individual to produce heat from internal sources, and allows animals to maintain a body temperature that is higher than their external environment. Although much is known about the benefits of endothermy, its origin is highly debated. Nonetheless, due to environmental variation, endotherms have to regulate their heat production (thermogenesis) in order to remain normothermic. An endotherms regulatory response seems to be body size dependent. Keeping warm during cold periods is energetically expensive, and for small mammals this is exacerbated by their high rate of heat loss due to high surface area to volume ratios. To compensate for the heat lost, small non-hibernating mammals must increase their level of thermogenesis. Much of our current understanding of thermogenic responses of small mammals is derived from laboratory acclimated animals, and studies on naturally acclimatized animals are uncommon. In addition, most studies on thermogenesis tend to focus on one level of animal organisation, such as subcellular, tissue or in-vivo, but seldom integrate these data. The aim of this study was to measure year-round variation in thermogenesis across all levels of organisation, using naturally acclimatized Rhabdomys pumilio individuals from the Nelson Mandela Metropolitan University, Port Elizabeth. It was predicted that the level of thermogenesis would be significantly higher during winter relative to other seasons in order to cope with the low ambient temperatures (Tas) experienced during this season. Open flow respirometry was used to measure the animal's oxygen consumption, as a proxy for metabolism; the by product of which is heat production. The animal's basal metabolic rate (BMR), nonshivering thermogenesis (NST) capacity and summit metabolic rate (MSUM) were measured. A Western blot analysis was used to determine the expression of uncoupling protein 1 (UCP 1) in the animals' brown adipose tissue (BAT), as well as determine its relative concentration. The cytochrome c oxidase (COX) activity of the animals' visceral organs and BAT was measured, as an indicator of the tissues' metabolic activity. COX activity was determined as the difference in the tissues' oxygen consumption before and after the addition of horse cytochrome c.
- Full Text:
- Date Issued: 2012
- Authors: Welman, Shaun
- Date: 2012
- Subjects: Mice -- Physiology Body temperature -- Regulation
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10948/21417 , vital:29514
- Description: Endothermy refers to the ability of an individual to produce heat from internal sources, and allows animals to maintain a body temperature that is higher than their external environment. Although much is known about the benefits of endothermy, its origin is highly debated. Nonetheless, due to environmental variation, endotherms have to regulate their heat production (thermogenesis) in order to remain normothermic. An endotherms regulatory response seems to be body size dependent. Keeping warm during cold periods is energetically expensive, and for small mammals this is exacerbated by their high rate of heat loss due to high surface area to volume ratios. To compensate for the heat lost, small non-hibernating mammals must increase their level of thermogenesis. Much of our current understanding of thermogenic responses of small mammals is derived from laboratory acclimated animals, and studies on naturally acclimatized animals are uncommon. In addition, most studies on thermogenesis tend to focus on one level of animal organisation, such as subcellular, tissue or in-vivo, but seldom integrate these data. The aim of this study was to measure year-round variation in thermogenesis across all levels of organisation, using naturally acclimatized Rhabdomys pumilio individuals from the Nelson Mandela Metropolitan University, Port Elizabeth. It was predicted that the level of thermogenesis would be significantly higher during winter relative to other seasons in order to cope with the low ambient temperatures (Tas) experienced during this season. Open flow respirometry was used to measure the animal's oxygen consumption, as a proxy for metabolism; the by product of which is heat production. The animal's basal metabolic rate (BMR), nonshivering thermogenesis (NST) capacity and summit metabolic rate (MSUM) were measured. A Western blot analysis was used to determine the expression of uncoupling protein 1 (UCP 1) in the animals' brown adipose tissue (BAT), as well as determine its relative concentration. The cytochrome c oxidase (COX) activity of the animals' visceral organs and BAT was measured, as an indicator of the tissues' metabolic activity. COX activity was determined as the difference in the tissues' oxygen consumption before and after the addition of horse cytochrome c.
- Full Text:
- Date Issued: 2012
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