Long-term impact of network access to bike facilities and public transit stations on housing sales prices in Portland, Oregon

Welch, Timothy F; Gehrke, Steven R.; Wang, Fangru

doi:10.1016/j.jtrangeo.2016.06.016

Cited by 32 publications

(25 citation statements)

References 23 publications

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“…For instance, Liu and Shi [27] underlined that the density of the bike network in Portland (Oregon) was a positive contributor to property values. Welch et al [21], however, found more mixed results in the same city. In Montreal (Canada), El-Geneidy et al [28] highlighted that the presence of a bicycle-sharing system in a neighborhood with 12 stations serving an 800-m buffer was expected to increase property values by approximately 2.7%.…”

Section: Literature Reviewmentioning

confidence: 89%

“…In the United States, Bowes and Ihlanfeldt [16] found both positive and negative effects of rail stations on the local house prices in Atlanta. Several other studies conducted in the USA showed a positive relationship between property values and the distance from light rail (LRT) stations, such as in Santa Clara (California) [17,18], Charlotte (North Carolina) [6], Buffalo (New York) [19], Dallas (Texas) [20], Portland (Oregon) [21] and Phoenix (Arizona) [22]. In Brisbane (Australia), Mulley et al [23] found that being close to a bus rapid transit (BRT) added a premium to the housing price of 0.14% for every hundred meters closer to the BRT station.…”

Section: Literature Reviewmentioning

confidence: 99%

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Spatial Heterogeneity of Sustainable Transportation Offer Values: A Comparative Analysis of Nantes Urban and Periurban/Rural Areas (France)

Bulteau¹,

Feuillet

Boennec

2018

Urban Science

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Abstract:Innovative solutions have been implemented to promote sustainable mobility in urban areas. In the Nantes area (northwestern part of France), alternatives to single-occupant car use have increased in the past few years. In the urban area, there is an efficient public transport supply, including tramways and a "busway" (Bus Rapid Transit), as well as bike-sharing services. In periurban and rural areas, there are carpool areas, regional buses and the new "tram-train" lines. In this article, we focus on the impact on house prices of these "sustainable" transportation infrastructures and policies, in order to evaluate their values. The implicit price of these sustainable transport offers was estimated through hedonic price functions describing the Nantes urban and periurban/rural housing markets. Spatial regression models (SAR, SEM, SDM and GWR) were carried out to capture the effect of both spatial autocorrelation and spatial heterogeneity. The results show patterns of spatial heterogeneity of transportation offer implicit prices at two scales: (i) between urban and periurban/rural areas, as well as (ii) within each territory. In the urban area, the distance to such offers was significantly associated with house prices. These associations varied by type of transportation system (positive for tramway and railway stations and negative for bike-sharing stations). In periurban and rural areas, having a carpool area in a 1500-m buffer around the home was negatively associated with house prices, while having a regional bus station in a 500-m buffer was non-significant. Distance to the nearest railway station was negatively associated with house prices. These findings provide research avenues to help public policy-makers promote sustainable mobility and pave the way for more locally targeted interventions.

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Section: Literature Reviewmentioning

confidence: 89%

Section: Literature Reviewmentioning

confidence: 99%

Spatial Heterogeneity of Sustainable Transportation Offer Values: A Comparative Analysis of Nantes Urban and Periurban/Rural Areas (France)

Bulteau¹,

Feuillet

Boennec

2018

Urban Science

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“…(Swoboda et al, 2015) worked with price variations due to traffic noise. (Welch et al, 2016) investigated the influence of the access to bike lanes and the proximity of public transport. Other works studied the effects of accessibility and location, with elements regarding the distance from highways (Allen et al, 2015), the accessibility in general (Li et al, 2016) and easy access and safety for people who walk in the neighborhood (Li et al, 2015).…”

Section: General Small and Mid-size Cities Have Still Not Adopted Rementioning

confidence: 99%

Análisis de precios hedónicos de viviendas

2019

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This paper presents a study about the housing pricing using hedonic modelling. The pricing models have several uses, such as determinate property taxes or to mortgage decision analysis. In the case of taxation, models must be broader, aiming at the evaluation of a set of housing units. It makes the work seem more complex. This issue is a barrier to widespread statistical inference in tax assessment, especially in small and medium-sized municipalities, which have fewer human resources. This paper presents a study in two medium-sized Brazilian cities, demonstrating the process of analysis and developing models to single-family properties. Data were collected on real estate agents and valuation reports. Statistical analysis allows finding the equations that best fitted observed data. Significance tests of variables and models were performed and indicated that the models have good explanation of prices. It can be concluded that these models could be used in evaluation with tax purposes.

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“…Generally, the presumption is that parks and trails have a positive effect on housing prices [9], but the relevant literature also shows that these amenities can have either no effect or even a negative impact on property values [16,33,34]. These differences in outcomes depend widely on the heterogeneity that can be found in the types of facilities and the neighborhood characteristics [17,[35][36][37].…”

Section: Literaturementioning

confidence: 99%

“…In addition, networked bike trails have greater effects than non-networked trails. Welch et al [37] estimated the joint impact of network proximity to rail transit stations and on-street bike lanes and off-street multiuse paths. They confirmed Krizek's [33] finding that off-street facilities tend to appreciate property prices, while on-street bike lanes have the opposite effect.…”

Section: Literaturementioning

confidence: 99%

Transforming Abandoned Rail Corridors into Multi-purpose Trails: Applying a Spatial Hedonic Approach to Estimating the Economic Benefits of the Little Miami Scenic Trail in Cincinnati, Ohio, USA

Zhang

Hofe

2018

Urban Rail Transit

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This research assesses the appreciation in residential property values in connection with proximity to the Little Miami Scenic Trail, a multipurpose biking, hiking, and jogging trail built along an abandoned railroad corridor near Cincinnati, Ohio, USA. Applying two spatial hedonic frameworks, the spatial lag of X (SLX) model and the spatial Durbin error model, we conclude that proximity to trail entrances had significant impacts on property values for both, Euclidean and network distance measures. Specifically, the SLX results indicate that decreasing the distance to the closest trail entrance by one foot (meter) increases a house's property value by US$0.92 (US$3.02) when using network distances.

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Long-term impact of network access to bike facilities and public transit stations on housing sales prices in Portland, Oregon

Cited by 32 publications

References 23 publications

Spatial Heterogeneity of Sustainable Transportation Offer Values: A Comparative Analysis of Nantes Urban and Periurban/Rural Areas (France)

Spatial Heterogeneity of Sustainable Transportation Offer Values: A Comparative Analysis of Nantes Urban and Periurban/Rural Areas (France)

Análisis de precios hedónicos de viviendas

Transforming Abandoned Rail Corridors into Multi-purpose Trails: Applying a Spatial Hedonic Approach to Estimating the Economic Benefits of the Little Miami Scenic Trail in Cincinnati, Ohio, USA

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