Housing Prices and Multiple Employment Nodes: Is the Relationship Nonmonotonic?

Osland, Liv; Pryce, Gwilym

doi:10.1080/02673037.2012.728571

Cited by 22 publications

(27 citation statements)

References 46 publications

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“…It follows from Table , however, that the estimated coefficients of the variables TIMECBD and ACCESSIBILITY in M3(OLS) differ substantially from the corresponding estimates, based on the models M3(SFE) and M3(CAR). In search for an explanation, it is well‐known that both job clusters and more urbanized and densely populated areas typically generate negative externalities, in terms of pollution, traffic congestion, and other urban diseconomies (see, for instance, Osland and Pryce, ). It can be claimed that the variables TIMECBD and ACCESSIBILITY in M3(OLS) capture the effects of such externalities, as well as the urban attraction and labor market accessibility effects, respectively.…”

Section: Resultsmentioning

confidence: 99%

Accounting for Local Spatial Heterogeneities in Housing Market Studies

Osland¹,

Thorsen

Thorsen³

2016

Journal of Regional Science

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We adopt a novel method to deal with omitted spatial heterogeneities in hedonic house price analysis. A Gaussian variant of the conditional autoregressive (CAR) model is used to study the impact of spatial effects. In a general linear modeling framework, we include zone‐specific random effects that are allowed to interact spatially with neighboring zones. The results demonstrate that this estimator accounts for missing spatial information, producing more reliable results on estimated spatially related coefficients. The CAR model is benchmarked against a fixed effects model. Socioeconomic neighborhood characteristics are found to have only modest impact on spatial variation in housing prices.

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Section: Resultsmentioning

confidence: 99%

Accounting for Local Spatial Heterogeneities in Housing Market Studies

Osland¹,

Thorsen

Thorsen³

2016

Journal of Regional Science

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“…For example, Adair et al (2000) find no significant role of gravity-based accessibility for Belfast as a whole, but identify that accessibility tends to be more important in some low-income neighbourhoods. This result may be explained by the difference in bid-rent function across households of different income levels (Osland and Pryce, 2012).…”

Section: Literature Reviewmentioning

confidence: 99%

Traffic congestion, accessibility to employment, and housing prices: A study of single-family housing market in Los Angeles County

Hou

2016

Urban Studies

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This study mainly addresses two main questions: (1) whether traffic congestion negatively affects single-family house price by constraining accessibility to jobs; (2) whether congestion effects and accessibility effects vary by income groups within a metropolitan area. This study uses a multilevel hedonic price model to estimate the marginal price of accessibility while controlling for other neighbourhood attributes and the correlation of proximal housing sales. The congestion effects are identified by comparing the implicit price of accessibility between congested-flow and free-flow. The results show that the accessibility measured with congested time yields higher marginal price, suggesting that households are willing to pay more to avoid locations with high congestion delays and accessibility loss. The results also suggest that accessibility effects are more valued by homebuyers in middle-income neighbourhoods, compared with those in the lowest or highest income neighbourhoods.

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“…The exponential function is a fair choice to describe the relationship between housing prices and the traveling time from CBD (Osland and Pryce, 2012). In this paper, we explore the spatial characteristics based on the estimated results in housing price surface and various distances to sub-centers or lakes.…”

Section: Spatial Characteristics In Proximity To Urban Lakesmentioning

confidence: 99%

A GIS-based spatial analysis of housing price and road density in proximity to urban lakes in Wuhan City, China

2015

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As one of the essential urban open spaces, lakes usually contribute immensely to the quality of residents′ daily lives. Different from hedonic approach employed in existing researches on urban open spaces in China, this paper integrates housing price surface with road density to analyze the spatial characteristics in proximity to urban lakes in Wuhan City, China. With the expansion of Wuhan City, urban lakes became polluted, they shrunk or even disappeared, leading to unfavorable conditions for sustainable development of the city. To better understand the spatial relationship between the city and lakes, we classify the urban lakes in Wuhan central area into ′lakes in the urban center′ and ′lakes in urban fringe′. Based on housing price surface we explore the spatial characteristics in proximity to different lakes and differences between the lakes. We also use Geographic Information System (GIS) tool to calculate road density as a supplementary indicator to reflect the accessibility in proximity to urban lakes. The results indicate that relative independence exists between different towns, and the spatial characteristics are different depending on scales and locations. In most of cases, the road density is lower where closer to the lakeshore while the housing price exhibits an opposite pattern. We conclude that city governments and urban planners should give more considerations to these spatial differences, somewhere should be better planned and protected as an important waterfront and somewhere the control of unreasonable real estate development nearby should be strengthened.

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Housing Prices and Multiple Employment Nodes: Is the Relationship Nonmonotonic?

Cited by 22 publications

References 46 publications

Accounting for Local Spatial Heterogeneities in Housing Market Studies

Accounting for Local Spatial Heterogeneities in Housing Market Studies

Traffic congestion, accessibility to employment, and housing prices: A study of single-family housing market in Los Angeles County

A GIS-based spatial analysis of housing price and road density in proximity to urban lakes in Wuhan City, China

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