Title page for ETD etd-03312010-135822


Document Type Master's Dissertation
Author Motau, Mxolisi
URN etd-03312010-135822
Document Title Information asymmetry as an impediment to market liquidity in township residential property markets
Degree MBA
Department Gordon Institute of Business Science
Supervisor
Advisor Name Title
Mr M Holland Supervisor
Keywords
  • real estate investment
Date 2007-04-08
Availability unrestricted
Abstract

Housing is currently a topical issue in South Africa which has a housing backlog estimated to exceed 2,5 million households. Banks are a critical component of the housing value chain. They have been struggling to facilitate the reduction of the backlog, citing a lack of market liquidity of townships relative to the suburbs as a primary reason for the failure to reduce the backlog.

The aim of this research study is to determine the extent to which information asymmetry is a factor in the liquidity of the township property market, with a view to understanding the impediments to liquidity in the township real estate market, and make recommendations for parsimonious interventions.

Quantitative analysis was performed by examining data obtained on Estate Agents, Properties Registered and Demographics. Descriptive statistics were employed to understand the structure of the market. Thereafter factor analysis was used to identify relationships and narrow the number of variables for further exploration. Finally, multiple regression was applied in order to understand how the variables identified interacted with one another. The findings revealed that estate agents and the type of housing product had a direct impact on market liquidity.

Market liquidity in the township market could be improved by making practical and parsimonious interventions centred on the estate agents, and property developers.

2006 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria

Please cite as follows:

Motau, M 2006, Information asymmetry as an impediment to market liquidity in township residential property markets, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://upetd.up.ac.za/thesis/available/etd-03312010-135822/ >

G10/248/ag

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