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This article critiques media commentary on reforms in higher education (HE) and the polytechnic or vocational education and training (VET) in Aotearoa/New Zealand during 2023. It used as its epicentre Gaston's (2023) opinion piece, particularly on the current round of redundancies, rationalisations and restructurings in the sector in our 'post-COVID-19' world. Her suggestion that the reforms as we see them today lead me to explore the origins of neoliberalist ideology in tertiary education in the country, seeking a definition to guide how Aotearoa/New Zealand, in particular, has experienced and manifested neoliberalist policy. The ideology's emphasis on work intensification and responsibilisation at both the level of the individual and the organization lies at the heart of the rationale. Since 2023 has been a year of mysterious budget holes for many universities and for the emergent super-Polytechnic Te Pūkenga/New Zealand Institute of Skills and Technology, I investigate how the media and public domain materials report the financial state of our tertiary providers. Generating a case study of the University of Otago's property portfolio, which grew by two billion dollars between 2012 and 2022, I tap into recent critiques of the university as a real estate portfolio and campus as literally 'flat land' that has the potential to become a domain less in the name of education than neoliberalist capitalism. [ABSTRACT FROM AUTHOR]

However, for most franchise systems, it is more common for landlords to require a guaranty from the franchisor, or to insist upon signing the lease directly with the franchisor, who in turn can sublease or license the premises to its franchisee. If such cure is made by the franchisor, the lease should also state that the franchisor curing the default is not a general assumption of the lease obligations unless the franchisor expressly agrees to do so in writing. If that is not possible, then franchisors could take the headlease and offer a sublease to franchisees or allow franchisees to take the lease so long as franchisors have step-in rights, should the franchise be terminated. If the franchisee takes the head lease, the franchisor should insist on the inclusion of special terms in the lease to provide the franchisor with options upon a termination of the franchise agreement. [Extracted from the article]

Real estate is one of the industries that have been most affected by COVID-19. The purpose of this study is to investigate the factors that affect customer use of New Zealand's real estate digital platforms. Trade Me and realestate.co.nz are the two most popular real estate digital platforms with the most significant number of homebuyers in New Zealand. This study uses the reviews on the two platforms from 2018 to 2021. There are a total of 1349 customer reviews on the two platforms, which represent the total population. A sample of 113 reviews from the realestate.co.nz platform and 113 reviews from the Trade Me platform are used for analysis. The findings show that perceived ease of use and usefulness, and information and system quality are the four main factors that affect the willingness of customers to use real estate digital platforms. After the spread of the pandemic, the impact of these factors on customer adoption of the platforms has been reduced. Therefore, the results of this study will be helpful in formulating and developing a digital marketing strategy for the New Zealand real estate industry in the postpandemic era. [ABSTRACT FROM AUTHOR]

Understanding risk-adjusted returns in real estate investment are crucial, but little is known about the risk-adjusted returns for direct real estate. This paper examines risk-adjusted total returns by developing an extended capital asset pricing model (CAPM) to investigate whether direct real estate returns compensate for their risk levels. Based on a panel dataset of the residential property transaction in 62 Territorial Authorities of New Zealand from 2002Q1 to 2018Q4, a direct real estate portfolio performance in the single-factor CAPM model is compared with the national housing markets stock markets and REITs markets in New Zealand before the pandemic. The results demonstrate that the direct real estate returns outperform the market returns with a significant positive alpha and beta smaller than one but positive. The alpha is further evaluated by the five-factor CAPM model, which includes the factors of liquidity risk, value risk, time risk, credit-rating risk, and currency risk. The assessment shows that most of the excess return (alpha) can be attributed to direct real estate market risks. [ABSTRACT FROM AUTHOR]

Christchurch, one of New Zealand’s major cities, has been dealing with a housing shortage after a series of major earthquakes struck in 2010 and 2011, causing extensive damage to the city. Consequently, two distinct types of housing development appeared in the suburban areas of Christchurch: low-density single-use neighbourhoods and higher-density mixed-use neighbourhoods. The latter type is relatively new for Christchurch suburban areas where low population densities dominated prior to 2011. Thus, this study aimed to investigate the preferences of the residents of Christchurch and its surrounding districts for living in mixed-use neighbourhoods. Specifically, it sought to identify the weights that those residents place on the costs of house purchase and transport, versus neighbourhood costs associated with mixed-use development, when purchasing a residential property in the suburban areas of Christchurch. For this, a stated preference survey was developed, using the efficient design method, and mixed-logit models were estimated using the data. The results show that most of those residents prefer to live in low-density single-use neighbourhoods rather than in higher-density mixed-use neighbourhoods, and are sensitive to increases in the land price, density of development and diversity of land use in the areas. [ABSTRACT FROM AUTHOR]

Abstract: Following the animal spirits theory proposed by Akerlof and Shiller, this article contributes to behavior economics by investigating the possibility of using auction sales data to capture evidence of irrational exuberance in the housing market. Using the monthly percentages of residential property auction sales for Auckland, Wellington and Christchurch regions in New Zealand from 2006 to 2015, and the exuberance testing method proposed by Phillips, Shi and Yu, we find that animal spirits have been developing in the Auckland housing market since 2013, but not in other regions. When compared to the results based on price‐to‐rent ratios, auction sales provide more meaningful results for identifying market‐wide irrational exuberance at an early stage. The causality test on price‐to‐rent ratios and auction sales volume shows that asset prices and animal spirits influence each other in the short run. In the long run, prices have significant effect on animal spirits, but not vice versa. [ABSTRACT FROM AUTHOR]

Recent studies in Australia and New Zealand have explored various technological, legal, and institutional aspects of 3D cadastre modernisation. The majority of these studies concentrate on a single jurisdiction. The reason is that each jurisdiction is in charge of its own cadastral system. As a result, each jurisdiction's standards, rules, and processes for implementing 3D digital cadastre are unique. In Australia and New Zealand, however, the Intergovernmental Committee on Surveying and Mapping (ICSM) has established national frameworks for cadastral systems. To implement 3D digital cadastre at a national level, it is vital to identify the variations and commonalities across existing cadastral systems. Comparisons of 3D cadastre for several civil law countries as well as international standards have been undertaken in the present literature. However, common law jurisdictions such as Australian states and New Zealand have not been compared in terms of 3D cadastre. Therefore, the main goal of this study is to propose a multi-jurisdictional framework that includes variations and commonalities in the current methods adopted for subdividing ownership of vertically placed properties in order to support 3D digital cadastre in all Australian and New Zealand jurisdictions. The proposed framework comprises four layers: definition, core, interoperability and jurisdictional. This framework would potentially serve as a starting point for building a nationally integrated digital data ecosystem for 3D cadastre in Australia and New Zealand. • The study identifies 3D primary and secondary parcels, boundaries, and spatial relationships in Australia and New Zealand. • A multi-jurisdictional framework that includes variations and commonalities across the studied jurisdictions. • The framework provides a foundation for a national digital data ecosystem for 3D cadastre in Australia and New Zealand. • Having a standardized approach for 3D digital cadastre will facilitate sharing data across multiple jurisdictions. [ABSTRACT FROM AUTHOR]

The direction and mechanisms of the relationship between airport traffic volumes and property prices are somewhat unclear in the literature. This study adds to that body of knowledge by empirically investigating the role of airports as an essential driver of economic activity by creating employment and facilitating air travel between destinations. The two-stage least-squares (2SLS) approach is employed to investigate the link between house prices and the airport traffic volumes of New Zealand’s three key regions and airports (Auckland, Canterbury/Christchurch and Wellington) from July 2004 to December 2014. The empirical findings of the study suggest that airport traffic volumes positively and significantly influence the urban house prices of New Zealand’s three major regions. [ABSTRACT FROM AUTHOR]

The article discusses the legal aspects of encumbrances, real property covenants, and property rights which are addressed in the New Zealand Court of Appeal case Body Corporate 341188 v. District Court at Auckland, and it mentions the nation's real property laws and legal interpretations.

The article focuses on New Zealand court cases dealing with topics including contract law, equity, and insurance law. Topics include the enforcement of settlement agreements, the loss of possession of real property due to a natural disaster such as an earthquake, and economic disparity awards. Information is provided on the registration of foreign judgments in New Zealand.

The article focuses on the U.S. court case Gateshead Investments Ltd v. Harvey, which dealt with real property law in New Zealand. Topics include the New Zealand Property (Relationships) Act of 1976, the reclassification of real property jointly owned, and the voiding of property agreements. Information is presented on the differences between joint tenancy and tenancy in common ownership.

The article discusses the Section 15 Property (Relationships) Act 1976 (P(R)A) associated with the property settlement regime in New Zealand. It considers how the Section 15 compensates relationship-generated disparities and how it achieves substantive equality between the parties' economic positions on relationship breakdown.

This paper utilises two politically determined natural experiments affecting state-provided social housing to examine the impact that housing tenure status has on neighbourhood outcomes. From 1990, New Zealand’s National government sold a substantial number of state houses either to existing tenants (Home Buys) or to other purchasers (vacant sales). From 1999, the Labour government ended Home Buys, reduced vacant sales and increased acquisitions. While vacant sales had no material effects on local outcomes, a higher prevalence of Home Buys led to increased local house price appreciation despite demographic trends that would otherwise have led to falling relative house prices in those communities. [ABSTRACT FROM PUBLISHER]

Abstract: This study presents a national level analysis of changes in land use and land cover in New Zealand from 1860 to 2005. We employ the Human Appropriation of Net Primary Production (HANPP) framework to assess land use induced impacts on ecological energy flows by accounting for socioeconomic harvest and productivity losses through land use change. By analyzing the interplay of socioeconomic dynamics, changes in land use, land use efficiency, and ecosystems we distinguish four stages of land use dynamics: 1) between 1860 and 1920 HANPP increased from 34% to 53% of the potential Net Primary Production, accompanied by low HANPP efficiency. 2) After 1920, driven by legislation that ended deforestation, HANPP declined to 32.7%, and then stagnated until 1950. 3) This was followed by a new period of growth which ended in 1980, when HANPP had reached 41%. Increased agricultural inputs resulted in increasing HANPP efficiency between 1920 and 1965, when high subsidization and land expansion caused stagnation in this trend. 4) After 1980, HANPP declined and reached 32% by 2005, reflecting efficiency improvements. We discuss these observed trajectories in the context of socio-economic dynamics such as land use policies and trade. [ABSTRACT FROM AUTHOR]

The article focuses on various legal topics include the recovery of land, remedies in trespass, and the New Zealand Land Transfer Act of 1952. Information is provided on tort law in New Zealand, actions for ejectment of land, and the use of human rights review tribunals as a means of dispute resolution.

This paper conceptualizes recent residential development in New Zealand's coastal countryside, which has entailed dramatic escalations in land and housing values. It considers whether this process should be understood as gentrification, as has recently been suggested. The argument against this interpretation is twofold. First, some qualities of coastal development that echo themes in the rural gentrification literature may be better understood as characteristics of a buoyant real estate market. Second, various central elements of rural gentrification are absent. These include restoration and reuse of the built environment, a shift in locational preferences prompting in-migration, and countercultural lifestyle opportunities. The process is also unlikely to cause significant direct displacement, as growth has proceeded in large part through greenfleld new-build. An alternative, and long-standing, conceptualization of rural coastal development in New Zealand is as a type of suburbanization. The reproduction of suburban forms and functions is illustrated with reference to a case study from the Northland region. The paper emphasizes that definitions of gentrification need to be tailored so as not to capture any type of real estate-related investment and upgrading. [ABSTRACT FROM AUTHOR]

The article focuses on the New Zealand court case Bartle v. GE Custodians Ltd., which dealt with corporate investment schemes and attribution. Topics include the New Zealand Securities Act of 1978, the payment of option and procurement fees, and debt securities. Information is provided on real estate exemptions.

The article focuses on the New Zealand court case Hamed v. R. which dealt with the legality of the police's use of covert police surveillance equipment. Information is provided on how the court deemed the practice in violation of search warrant laws because it is anticipatory in nature and can constitute unlawful trespass by police when devices are installed on private property.

The article focuses on the New Zealand Property (Relationships) Act of 1976 which gives the court power to make and enforce occupation orders in private residences. Information is provided on how the order can only be made if the home is jointly owned which has created an increase in the number of trust-owned properties since the law was enacted.

Citizens and their governments are dependent on sound cadastral information for a variety of purposes from mapping to mortgage guarantees. The integrity of cadastral databases, in turn, is dependent on the professional standards and ethical conduct of those responsible for creating the data. It is therefore common to restrict the production of cadastral data to those with specific qualifications and experience and who, on that basis, have proven their competence to an accrediting body. When complaints are received about surveyors who possess such accreditation and who may have made significant errors, not met the competency standards or who have their honesty questioned, it is necessary to initiate and carry out a judicial process to ascertain whether the accusations can be substantiated. If they can, the board then needs to decide whether they should suffer some penalty, be required to retrain or continue to be able to contribute data to the cadastre under specified conditions. Cases for investigation may be generated by the public, clients or government regulatory bodies. The six Australian states and two territories, along with New Zealand, share a common origin of their licensing system. Protocols first promulgated in 1892 allow for reciprocity of licence recognition between the nine jurisdictions. However, in the last several decades each jurisdiction has developed differing processes for dealing with the manner in which cadastral surveyors are disciplined following substantiation of a complaint. This paper describes the nature of the licensing bodies, definitions of professional misconduct that attract disciplinary action, the nature of the processes of dealing with complaints, and the penalties available to be imposed on surveyors found to be in breach of competency standards. It then discusses the principles involved in the fair and just handling of complaints. [ABSTRACT FROM AUTHOR]

This article is about the doctrine of part performance and its application in New Zealand's law of contract. In order to be enforceable contracts for the disposition of land must be in writing and must be signed by the person against whom the contract is enforced. Where these requirements have not been met the courts have evolved the doctrine of part performance to enable a contract to be enforceable where that is equitable. This article outlines the doctrine of part performance as found in New Zealand and argues that it is so uncertain that its existence does not benefit litigants or would be litigants. The article concludes that the difficulties with the doctrine of part performance mean that it is not a clear and effective mechanism again the misuse of the writing requirement and, therefore, adds to other reasons to repeal the writing requirement for contracts for the sale of land. [ABSTRACT FROM AUTHOR]

This article is a tribute to Professor David McLauchlan on the occasion of his 40th teaching anniversary. The first part is a personal recollection from each of the two authors. The second part is a joint case note. It poses the question: how could a real estate firm who knew the vendor did not intend to appoint the firm as agent nevertheless have a legal right to withhold commission? In the decision of Nightingale v Barfoot Ltd, Venning J confirmed that the firm had such a right. This article challenges the accuracy of that conclusion, suggesting that as there was no evidence to support the formation of an agency agreement, the real estate firm did not have the right to deduct commission. It analyses critically a number of the legal arguments raised in the case and those that should have been raised, including those concerning contract formation, the objective principle, promissory estoppel, and the effect of s 62 of the Real Estate Agents Act 1976 and the Contracts Privity Act 1982. Much responsibility for the outcome of the case must be pinned on counsel for the vendor, who failed to stop and ask himself "But Where's The Contract"? [ABSTRACT FROM AUTHOR]

The article focuses on the New Zealand court case Browns Real Estate Ltd. v. Grand Lakes Properties Ltd., which dealt with statutory demand procedure. Topics include the enforcement of lease clauses, counterclaim impact on the recovery of debt, and hardship. Information is provided on the New Zealand Evidence Act of 2006.

The article discusses three notable court cases that are decided under the Personal Property Securities Act 1999 (PPSA) in New Zealand. It explores the facts and issues of the cases Tubbs v. Ruby 2005 Ltd., McKay v. Toll Logistics, and Rabobank New Zealand Ltd. v. Stockco Ltd. and examines the court's recpective decisions about the matter. It also notes how such cases involve priority disputes as well as statutory rules that reflect the regulation.