Market segmentation and the impact of landfills on residential property values: Empirical evidence from an African city

Arimah, Ben C.; Adinnu, Frank I.

doi:10.1007/bf02496533

Cited by 15 publications

(7 citation statements)

References 25 publications

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“…Hedonic modelling or regression analysis is a widely accepted or orthodox technique applied within the house-price estimation, with studies examining the impact of externalities traditionally investigated using the hedonic price model (Rosen, 1974;Freeman, 1979;McLeod, 1984;Kohlhase, 1991;Arimah and Adinnu, 1995;Bourassa et al, 2007). The starting point for the model specification is the selection of a baseline linear regression model (hedonic) which assumes a constant pricing effect.…”

Section: Regression Analysismentioning

confidence: 99%

Effect of public green space on residential property values in Belfast metropolitan area

McCord

McCluskey

et al. 2014

Journal of Financial Management of Property and Construction

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Purpose – The aim of this study is to add to the emerging knowledge base in the UK and be of relevance to land use planners and all stakeholders in property taxation. Urban green open spaces are valuable environmental resources often associated with positive influences for quality of life and property value. Design/methodology/approach – Using a hedonic pricing specification, this paper measures the proximate effect of public green space on residential property value. It examines the relationship between 3,854 residential sales transactions and public green spaces across the Belfast housing market gathered from Land and Property Services throughout the year 2011 showing the percentage effect on property value with respect to distance to public green spaces. Findings – The results show that, ceteris paribus, urban green space has a significant positive impact on proximate residential properties sale price for the terrace and apartment sectors and that terrace and apartment property located closer to public green spaces achieved increases in sale price of up to 49 per cent. Adjacency to green open space produced significant property value premiums in only two of the four housing types analysed, with limited statistically significant proximate effects evident for the detached and semi-detached sectors, a finding which has important social and public policy implications. Originality/value – A number of empirical studies have demonstrated that public green space, such as urban parks, have a positive impact on property values. However, there is a paucity of empirical research on this relationship in the UK. This study serves to address this gap by examining the effect of public green spaces on house price within the medium-sized regional city in the UK.

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Section: Regression Analysismentioning

confidence: 99%

Effect of public green space on residential property values in Belfast metropolitan area

McCord

McCluskey

et al. 2014

Journal of Financial Management of Property and Construction

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“…First, the double log regression model enables the presentation of the regression coefficients directly as elasticity estimates (Fasakin, 2000;Arimah, 1995). Second, it translates the skewness of the data frequency to a normal one thereby enabling much better estimates of the explanatory variable (Fasakin, 2000).…”

Section: The Modelmentioning

confidence: 99%

“…Third, it reduces the occurrence of heteroscedasticity, that is, the variance of the distribution of the residual is uniform or constant for all values of the variables of research. Fourth, it ensures the stability of and significance of the implied relationship thereby enabling better explanatory power of the coefficient of multiple determination (R 2 ) (Fasakin, 2001 andArimah, 1995).…”

Section: The Modelmentioning

confidence: 99%

Sustainable Water Service Delivery: An Assessment of a Water Agency in a Rapidly Urbanizing City in Nigeria

Olajuyigbe

2010

JSD

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In the Nigerian Federation, water supply is a state responsibility. State governments have therefore created State Water Agencies to manage and operate systems for water service delivery in all urban and semi-urban areas. Generally, these State Water Agencies have failed to effectively deliver water services to the people. In Ado-Ekiti, the Ekiti State Water Corporation is saddled with the task of meeting the water needs of the city dwellers. This paper examines some factors that explain the poor service delivery level of the Corporation. Adopting a sample size of 1,200 (4% of the total number of households in Ado-Ekiti) through random sampling technique, empirical estimates show that factors that significantly affect the performance level of this Corporation include: payment for water supply, billing system, adequacy of supply, frequency of pumping of water, notices from the Corporation in cases of system breakdown, response to leakages, adequacy of public standing pipes and appropriate location or distribution of standing pipes. The paper clamored for an evolvement of water policy for the state that would adequately address the issues emanating from the significant factors affecting the Corporation performance.

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“…Hedonic modeling or regression analysis is the widely accepted or orthodox technique applied within house price estimation, with studies examining the impact of externalities traditionally investigated using the hedonic price model (Rosen, 1974;Freeman, 1979;Kohlhase, 1991;Arimah and Adinnu, 1995). The proximate principle (Compton, 1995) is operationalised using the hedonic pricing technique.…”

Section: Hedonic Pricingmentioning

confidence: 99%

Belfast's iron(ic) curtain

McCord

McCluskey

et al. 2013

Journal of European Real Estate Research

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Purpose -Belfast's "peace walls" exist to physically segregate and provide a measure of security to the communities on the religious divide in Northern Ireland. Whilst they do ostensibly achieve this aim, it may well be that these structures have the capacity to prevent the restoration of normal community interactions and market processes and may also be providing their benefits at a high price with regard to issues such as house price reduction. Indeed, the effect of these structures on surrounding residential property values remains somewhat of an unknown quantity. This paper therefore measures the effect of proximity to locations with social and political conflicts. The paper aims to quantify and measure the disamenity implications and costs of artificial barriers (peace walls) within the Belfast housing market. Design/methodology/approach -This paper attempts to measure the disamenity effect of peace walls on house prices, primarily focusing on the effect of distance, calculated using a hedonic pricing specification and spatially referenced data. The data are derived from 3,836 house sales transactions over a one year period in 2011. Findings -The emerging findings demonstrate that a greater negative pricing effect is evident with proximity to the peace walls, with the exception of the apartment sector. The findings also highlight the complex market pricing structure of Belfast and offer insight as how to best classify submarkets. Practical implications -The results of the research are of particular interest to property valuers and social policy makers in regions with contested space. Originality/value -Tactile barriers scar the urban terrain, formalise ethno-segregation across Belfast and have implications for spatial planning in the urban environment and housing studies and policy. Such an externality may have a pervasive and endogenous effect on house prices and the identification of submarkets yet there is implicit acceptance of peace lines as de facto standard and a dearth of empirical evidence relating to direction and magnitude of the location-specific effects of peace walls on house prices in Belfast. This paper is arguably the first to empirically examine the location-specific effects of peace walls on property value across the Belfast area.

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Market segmentation and the impact of landfills on residential property values: Empirical evidence from an African city

Cited by 15 publications

References 25 publications

Effect of public green space on residential property values in Belfast metropolitan area

Effect of public green space on residential property values in Belfast metropolitan area

Sustainable Water Service Delivery: An Assessment of a Water Agency in a Rapidly Urbanizing City in Nigeria

Belfast's iron(ic) curtain

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