Spatial Variation in the Price of Housing: Rent Gradients in Non-Monocentric Cities

Dubin, Robin A.; Sung, Chein-Hsing

doi:10.1080/00420988720080331

Cited by 92 publications

(65 citation statements)

References 4 publications

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“…Previous papers that to some extent are parallel to this approach are Dubin and Sung (1987), Heikkila et al (1989), Richardson et al (1990), Yinger (1992), Waddell et al (1993), and Krybokov (2010). Those contributions emphasize the importance of including distance to secondary employment centres in addition to the globally defined CBD gradient.…”

Section: Theoretical Foundations In the Literaturementioning

confidence: 99%

Spatial Impacts, Local Labour Market Characteristics and Housing Prices

Osland¹,

Thorsen²

2013

Urban Studies

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This paper takes as a starting-point a model where spatial variation in housing prices is explained by urban attraction and labour market accessibility effects.Using data from a region in south-west Norway, estimation results are found to be encumbered, however, with significant spatial effects. The spatial Durbin model is used to account for this and to provide estimates of direct and indirect impacts. In addition, hypotheses are tested that some of the spatial variation in housing prices reflects local labour market characteristics. Some support is found for a hypothesis that a model specification should account for sub-centres located at some distance from the central parts of the region. The indirect impacts estimated in the spatial Durbin model suggest that spatially related misspecifications of implicit elasticities in the ordinary least squares model are mainly due to negative externalities close to areas of high labour market accessibility.

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Section: Theoretical Foundations In the Literaturementioning

confidence: 99%

Spatial Impacts, Local Labour Market Characteristics and Housing Prices

Osland¹,

Thorsen²

2013

Urban Studies

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“…There is little consensus, however, on which variables are the best proxy for neighbourhood quality measurement, based on actual house price or property physical characteristic or housing quality or ward boundary or should be defined in spatial terms (Adair et al, 1996;Can, 1990). Therefore, neighbourhood quality is arguably an unobservable variable (Dubin and Sung, 1987). When an overarching model is adopted, such decisions may lead to disparities or inconsistencies where properties adjoin or close to neighbourhood boundaries.…”

Section: Traditional Approaches To Modelling Locational Factorsmentioning

confidence: 99%

Combining Geographic Information Systems and Regression Models to Generate Locational Value Residual Surfaces in the Assessment of Residential Property Values

Hamid

2007

Pacific Rim Property Research Journal

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“…Early empirical studies using the monocentric model reported that the distance variable in house price models produced the expected negative coefficient, indicating that constant-quality house prices go down in value when houses are located further away from the city centre. However, Bender and Hwang (1985), Dubin (1992), Dubin and Sung (1987) and Olmo (1995), among many others, show that subsequent studies produced contradictory results. These studies point to the polycentric agglomeration of cities as a possible reason for this controversy.…”

Section: Introductionmentioning

confidence: 99%

Does it matter how far you live from the city centre? A study of apartment values in Vienna

Herath

Brunauer²,

Bienert³

et al. 2011

Proceedings of the 18th Annual European Real Estate Society Conference - Eindhoven, the Netherlands

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The explanations provided in the literature for community-level variations in constant-quality house prices vary from urban economics (e.g., distance from the Central Business District) to local public economics (e.g., property tax rate) to urban-amenities theory (e.g., crime rate). This paper examines the impact of distance from the city centre on values of residential apartment units in Vienna. Data on individual owner assessments of apartment value along with other hedonic determinants of housing value is obtained from a popular online database of apartment units available for sale. The three candidates for the location variable include the district in which the apartment units are located, a categorical variable classifying location into three groups -the centre, neighbouring districts and outskirtsin addition to estimates of distance from a predefined point in the city centre to the apartment units. The control variables of the analysis include number of rooms, living area, number of the floor, number of bathrooms and toilets, availability of balcony / terrace / elevator / basement and type of flooring in addition to the information if the unit is furnished. The first part of the article examines the possible influence of distance and other location variables on the price of a constant-quality apartment. The results demonstrate a negative relation between distance from the city centre and apartment price. The tests employed to empirically explore if there is spatial autocorrelation in the residual series suggest use of the spatial autoregressive error model (SEM) as appropriate. The estimation results of the spatial model are very similar to those of the base model, suggesting that the results produced by the base model are not an outcome of any misspecification of the model.

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Spatial Variation in the Price of Housing: Rent Gradients in Non-Monocentric Cities

Cited by 92 publications

References 4 publications

Spatial Impacts, Local Labour Market Characteristics and Housing Prices

Spatial Impacts, Local Labour Market Characteristics and Housing Prices

Combining Geographic Information Systems and Regression Models to Generate Locational Value Residual Surfaces in the Assessment of Residential Property Values

Does it matter how far you live from the city centre? A study of apartment values in Vienna

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