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An Application of the Hedonic Price Model to the Perth Residential Land Market

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  • COLIN J. BARNETT

Abstract

This paper presents the results of an application of the Rosen‐Freeman hedonic price model to the Perth (Western Australia) residential land market. A sample of over two thousand market transactions is used to estimate the value of residential land attributes. Major emphasis is given to those particular land attributes that are subject to public regulation and to the policy implications that follow.

Suggested Citation

  • Colin J. Barnett, 1985. "An Application of the Hedonic Price Model to the Perth Residential Land Market," The Economic Record, The Economic Society of Australia, vol. 61(1), pages 476-481, March.
    • Handle: RePEc:bla:ecorec:v:61:y:1985:i:1:p:476-481
    DOI: 10.1111/j.1475-4932.1985.tb01999.x
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    References listed on IDEAS

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    1. Leroy J. Hushak, 1975. "The Urban Demand for Urban-Rural Fringe Land," Land Economics, University of Wisconsin Press, vol. 51(2), pages 112-123.
    2. Wilkinson, R K, 1973. "House Prices and the Measurement of Externalities," Economic Journal, Royal Economic Society, vol. 83(329), pages 72-86, March.
    3. Goodman, Allen C., 1978. "Hedonic prices, price indices and housing markets," Journal of Urban Economics, Elsevier, vol. 5(4), pages 471-484, October.
    4. Peter F. Colwell & C. F. Sirmans, 1978. "Area, Time, Centrality and the Value of Urban Land," Land Economics, University of Wisconsin Press, vol. 54(4), pages 514-519.
    5. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    6. Schnare, Ann B. & Struyk, Raymond J., 1976. "Segmentation in urban housing markets," Journal of Urban Economics, Elsevier, vol. 3(2), pages 146-166, April.
    7. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
    8. Patricia F Apps, 1973. "An Approach to Urban Modelling and Evaluation a Residential Model: 2. Implicit Prices for Housing Services," Environment and Planning A, , vol. 5(6), pages 705-717, December.
    9. Freeman, A Myrick, III, 1979. " Hedonic Prices, Property Values and Measuring Environmental Benefits: A Survey of the Issues," Scandinavian Journal of Economics, Wiley Blackwell, vol. 81(2), pages 154-173.
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    1. Cho, Seong-Hoon & Bowker, James Michael & Park, William M., 2006. "Measuring the Contribution of Water and Green Space Amenities to Housing Values: An Application and Comparison of Spatially Weighted Hedonic Models," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(3), pages 1-23, December.
    2. Saloomeh Akbari & Maksym Polyakov & Md Sayed Iftekhar, 2023. "Capitalised nonmarket benefits of multifunctional water‐sensitive urban infrastructure: A case of living streams," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 67(4), pages 524-540, October.

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