The Impact of Traffic Noise on the Values of Single-family Houses

Wilhelmsson, Mats

doi:10.1080/09640560020001692

Cited by 176 publications

(121 citation statements)

References 12 publications

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“…Disamenities such as road noise (Day at al., 2006;Wilhelmsson 2000) have also been investigated. For the most part, this large body of literature has consistently shown an observable effect of environmental factors on property prices.…”

Section: Introductionmentioning

confidence: 99%

The Amenity Value of English Nature: A Hedonic Price Approach

Gibbons

Mourato

Resende

2013

Environ Resource Econ

168

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Using a hedonic property price approach, we estimate the amenity value associated with proximity to habitats, designated areas, domestic gardens and other natural amenities inEngland. There is a long tradition of studies looking at the effect of environmental amenities and disamenities on property prices. But, to our knowledge, this is the first nationwide study of the value of proximity to a large number of natural amenities in England. We analysed 1 million housing transactions over 1996-2008 and considered a large number of environmental characteristics. Results reveal that the effects of many of these environmental variables are highly statistically significant, and are quite large in economic magnitude. Gardens, green space and areas of water within the census ward all attract a considerable positive price premium. There is also a strong positive effect from freshwater and flood plain locations, broadleaved woodland, coniferous woodland and enclosed farmland. Increasing distance to natural amenities such as rivers, National Parks and National Trust sites is unambiguously associated with a fall in house prices. Our preferred regression specifications control for unobserved labour market and other geographical factors using Travel to Work Area fixed effects, and the estimates are fairly insensitive to changes in specification and sample. This provides some reassurance that the hedonic price results provide a useful representation of the values attached to proximity to environmental amenities in England. Overall, we conclude that the house market in England reveals substantial amenity value attached to a number of habitats, designations, private gardens and local environmental amenities.

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Section: Introductionmentioning

confidence: 99%

The Amenity Value of English Nature: A Hedonic Price Approach

Gibbons

Mourato

Resende

2013

Environ Resource Econ

168

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“…Since most individuals live at the lower noise levels this has implications for a welfare analysis, such as BCA. For Swedish 17 A reason for this difference between ASEK and our results may be Wilhelmsson's function-form combined with the fact that the study did not control for other negative effects of proximity to roads; that is, the marginal relation between costs and noise is probably overestimated at high noise levels using the current calculation values, a problem also noticed in ( [72], p. 808).…”

Section: Discussionmentioning

confidence: 49%

Benefit measures for noise abatement: calculations for road and rail traffic noise

Andersson

Jönsson

Ögren

2013

Eur. Transp. Res. Rev.

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Purpose The aim of this study is to estimate monetary abatement values for road and rail traffic noise that can be used for policy purposes. However, a main objective is to critically discuss the assumptions necessary to convert the monetary values elicited in willingness to pay (WTP) studies to values than can be use for policy purposes. Methods We employ the hedonic regression technique on Swedish data to elicit individuals' preferences for noise abatement. Our elicited values are then converted to policy values and critically examined based on findings from a literature review. Results We show that WTP for road and rail not only differs in levels but also that the relationship between the noise level and the marginal value differs between the two sources. We also show that a health cost component added to the WTP estimate, based on the assumption of uninformed property buyers, will be small but not negligible and that also modest differences in the assumption of the discount rates will have a significant effect on the estimated values. Conclusions The main implications from this study are: (i) WTP for road and railway noise abatement differs not only on absolute but also marginal levels, (ii) Even small differences in the chosen discount rate, which is necessary to convert WTP values from a hedonic price study to policy values, have large effects on the policy values, and (iii) We show how to add a health cost component to the WTP estimates in order for the monetary estimates to reflect the total social cost. However, we argue that the motivation for doing so is weak and that more research is needed on this issue.

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“…Η μελέτη καταλήγει ότι οι κατοικίες που βρίσκονται κοντά στους σταθμούς του τρένου έχουν την τάση να είναι κατά μέσο όρο 25% ακριβότερες από εκείνες που τοποθετούνται 15χλμ ή και περισσότερο μακρυά. Ανάλογες μελέτες έγιναν και από τους Wilhelmsson (2000), Rapozza (1999), Knapp et al (1996), Armstrong (1994) κ.α.…”

Section: αγορές κατοικιών και γεωγραφικές μεταβλητέςunclassified

Παράγοντες Επηρεασμού Των Τιμών Των Αγορών Κατοικιών:Μια Θεωρητική Προσέγγιση

Κυριακίδης¹

2017

ELRIE

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<p>Στη μέχρι τώρα γνωστή βιβλιογραφία υπάρχει πλήθος δημοσιεύσεων αναφορικά με τους οικονομικούς πρωτίστως δείκτες που επηρεάζουν τις τιμές και διαδραματίζουν σημαντικό ρόλο στην εξέλιξή τους. Φαίνεται όμως ότι σε αυτή την βιβλιογραφία τα αποτελέσματα τείνουν σε γενικεύσεις και έτσι αποτυγχάνουν κατ΄ουσίαν να προβλέψουν επαρκώς τις μελλοντικές εξελίξεις στις τιμές των κατοικιών. Δεν είναι όμως λίγα τα άρθρα που πραγματεύονται τις υποαγορές κατοικιών, δίδουν όμως «βάρος» κατά την ανάλυσή τους αποκλειστικά στις μεθόδους ορισμού των υποαγορών και στην εξεύρεση εκείνων των παραγόντων που μπορούν να επηρεάσουν τη δυναμική τους. Καθίσταται εξάλλου καθ΄όλα κατανοητό και ευκόλως αντιληπτό ότι η αγορά ακινήτων και η σχέση της με την οικονομική δυναμική μίας χώρας είναι στενή. Kάθε έρευνα που διενεργείται σε αυτόν τον τομέα σκοπεί, μεταξύ άλλων, να προσφέρει το «λιθαράκι» της στην προσπάθεια ενός ορθολογικότερου γενικού σχεδιασμού της επιθυμητής οικονομικής ανάπτυξης. Προς αυτή την κατεύθυνση επιθυμούμε να συμβάλλουμε και να ανοίξουμε έναν νέο διάλογο.</p>

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The Impact of Traffic Noise on the Values of Single-family Houses

Cited by 176 publications

References 12 publications

The Amenity Value of English Nature: A Hedonic Price Approach

The Amenity Value of English Nature: A Hedonic Price Approach

Benefit measures for noise abatement: calculations for road and rail traffic noise

Παράγοντες Επηρεασμού Των Τιμών Των Αγορών Κατοικιών:Μια Θεωρητική Προσέγγιση

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