Johnstone, I M (2001) Periodic refurbishment and reductions in national costs to sustain dwelling services. Construction Management and Economics, 19(1), pp. 97-108. ISSN 01446193
Abstract
This paper uses a simulation model to make exploratory estimates of current and potential reductions in national costs to sustain dwelling services due to refurbishment. Data and parameters are based on a typical New Zealand dwelling of lightweight timber framed construction. Dwelling service years provided by a dwelling over one year adjusted for depreciation serve as a proxy for benefits. The costs to construct one dwelling and fractions thereof serve as a proxy for the costs of maintenance, refurbishment, replacement, and new construction. Current levels of refurbishment reduce national average costs to sustain dwelling services by a magnitude of 15%. Potential reductions in national costs are modest (5%) should the housing stock be stationary, but are negligible when the expansion rate of the housing stock is as high as 2.0% per year. A decline in the expansion rate of a housing stock has a greater impact on reducing national costs than an increase in the number of cycles of refurbishment.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | simulation methods & models; dwellings; New Zealand; dwelling services; housing stock; national costs; periodic refurbishment; simulation model |
| Index terms: | housing stock, replacement, New Zealand, estimate |
| Subjects: | Geography, industry analysis, materials science, financial and cost management |
| Topics: | Engineering Principles, Geographical Context, Cost Management, Business Strategy |
| Descriptive scope: | 2 PC |
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