The impact of walkable environment on single-family residential property values

Abstract

Abstract:Due to the impact of urban sprawl, the need for responsible property investing, and the emerging evidence supporting the linkage between walkable environment (in terms of built environment and walk accessibility) and residential property value, there is a critical need to develop systematic methodologies to quantify the impact of walkable environment on residential property value. This study provides a new generalized dissimilarity index for quantifying landuse mix, a key component of built environment, and a new method for measuring a property's walk accessibility and then links them to residential property values. Ordinary least squares (OLS) regression models are used to validate these methods by examining the empirical property data in Eastern Adelaide, Australia. The results of the OLS models show that the proposed dissimilarity index and property walkaccessibility method outperform other commonly used land-use mix quantification and walk-accessibility methods in estimating singlefamily residential property values in terms of the goodness-of-fit and explanatory power. This study provides insights for investors to understand the impact of walkable environment on single-family residential property values to enable them to make more informed decisions on property investment, and for planners to design neighborhoods featuring better walkable environments.

Analysis of Emergency Evacuation Modal Choice Behavior with Spatial Indicators: Case Study in Xi’an, China

“…Cervero (2002) found that land-use diversity at origin and destination lowered the chance of private-vehicle usage, compared with public transport usage. Guo [13,14] used land-use mix and net residential density as factors to quantify the walkable environment.…”

Microescala, Movimento De Pedestres E Níveis Socioeconômicos: Um Estudo Empírico

“…Tais evidências alinham-se com a literatura, que indica que valores venais do solo urbano aumentam com maiores níveis de caminhabilidade (28), no aumento dos valores de propriedades residenciais urbanas (29), especialmente em função de características da microescala como a presença e qualidade de calçadas.…”

A comparison of neighbourhood liveability as perceived by two groups of residents: Tehran, Iran and Tartu, Estonia

“…Urban environments vary considerably in terms of the urban form, geographical and climatic conditions, types and amount of green elements, built form and use of materials, among others. Studies on residential liveability indicate that while various housing, neighbourhood and household characteristics determine the level of residential liveability, the impacts of these criteria as determinants of residential liveability tend to vary by housing types, land use mixes (Aurand, 2010;Song & Knaap, 2004), city block sizes, walkability (Brown et al, 2009;Guo et al, 2017), control (Lynch, 1981), identity and cultural and religious traditions; such a complex range tends to indicate that case specific studies are required to determine residential liveability to guide public policies. They also vary according to the region's social context (Balsas, 2004), political trends (Kaal, 2011;Teo, 2014), national lifestyles and the degree to which it is possible to live out of doors for much of the time.…”