IDEAS home Printed from https://ideas.repec.org/a/ecj/econjl/v114y2004i499pf441-f463.html
   My bibliography  Save this article

The Costs of Urban Property Crime

Author

Listed:
  • Steve Gibbons

Abstract

This paper estimates the impact of recorded domestic property crime on property prices in the London area. Crimes in the Criminal Damage category have a significant negative impact on prices. A one-tenth standard deviation decrease in the local density of criminal damage adds 1% to the price of an average Inner London property. Burglaries have no measurable impact on prices, even after allowing for the potential dependence of burglary rates on unobserved property characteristics. One explanation we offer here is that vandalism, graffiti and other forms of criminal damage motivate fear of crime in the community and may be taken as signals or symptoms of community instability and neighbourhood deterioration in general. Copyright 2004 Royal Economic Society.

Suggested Citation

  • Steve Gibbons, 2004. "The Costs of Urban Property Crime," Economic Journal, Royal Economic Society, vol. 114(499), pages 441-463, November.
    • Handle: RePEc:ecj:econjl:v:114:y:2004:i:499:p:f441-f463
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Steve Gibbons & Stephen Machin, 2001. "Valuing Primary Schools," CEE Discussion Papers 0015, Centre for the Economics of Education, LSE.
    2. Allen Lynch & David Rasmussen, 2001. "Measuring the impact of crime on house prices," Applied Economics, Taylor & Francis Journals, vol. 33(15), pages 1981-1989.
    3. Thaler, Richard, 1978. "A note on the value of crime control: Evidence from the property market," Journal of Urban Economics, Elsevier, vol. 5(1), pages 137-145, January.
    4. Brand, Sam & Price, Richard, 2000. "The economic and social costs of crime," MPRA Paper 74968, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daniel Cerqueira & Rodrigo R. Soares, 2016. "The Welfare Cost of Homicides in Brazil: Accounting for Heterogeneity in the Willingness to Pay for Mortality Reductions," Health Economics, John Wiley & Sons, Ltd., vol. 25(3), pages 259-276, March.
    2. Paolo Buonanno & Daniel Montolio & Josep Raya-Vílchez, 2013. "Housing prices and crime perception," Empirical Economics, Springer, vol. 45(1), pages 305-321, August.
    3. Woei-Chyuan Wong & Adilah Azhari & Nur Adiana Hiau Abdullah & Chee Yin Yip, 2019. "Estimating the impact of crime risk on housing prices in Malaysia," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 13(5), pages 769-789, November.
    4. Soares, Rodrigo R., 2006. "The welfare cost of violence across countries," Journal of Health Economics, Elsevier, vol. 25(5), pages 821-846, September.
    5. Joaquín Delgado & Giovanni Wences, 2020. "A hedonic approach to the valuation of the effect of criminal violence on housing prices in Acapulco City," Empirical Economics, Springer, vol. 59(6), pages 2999-3018, December.
    6. Juan Tomas Sayago-Gomez & Adam Nowak, 2016. "What is Near and Recent in Crime for a Homeowner? The Cases of Denver and Seattle," Working Papers Working Paper 2016-01, Regional Research Institute, West Virginia University.
    7. Muñoz-Morales, Juan & Singh, Ruchi, 2023. "Do school shootings erode property values?," Regional Science and Urban Economics, Elsevier, vol. 98(C).
    8. Anastasia Klimova & Adrian D. Lee, 2014. "Does a Nearby Murder Affect Housing Prices and Rents? The Case of Sydney," The Economic Record, The Economic Society of Australia, vol. 90, pages 16-40, June.
    9. Awaworyi Churchill, Sefa & Smyth, Russell & Trinh, Trong-Anh & Yew, Siew Ling, 2022. "Local crime and fertility," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 312-331.
    10. Mattheus Brenig & Till Proeger, 2018. "Putting a Price Tag on Security: Subjective Well-Being and Willingness-to-Pay for Crime Reduction in Europe," Journal of Happiness Studies, Springer, vol. 19(1), pages 145-166, January.
    11. Robert T. Greenbaum & George E. Tita, 2004. "The Impact of Violence Surges on Neighbourhood Business Activity," Urban Studies, Urban Studies Journal Limited, vol. 41(13), pages 2495-2514, December.
    12. Hua, Nan & Yang, Yang, 2017. "Systematic effects of crime on hotel operating performance," Tourism Management, Elsevier, vol. 60(C), pages 257-269.
    13. Brenig, Mattheus & Proeger, Till, 2016. "Putting a price tag on security: Subjective well-being and willingness-to-pay for crime reduction in Europe," University of Göttingen Working Papers in Economics 278, University of Goettingen, Department of Economics.
    14. Yeh, Susan, 2015. "Revealing the rapist next door: Property impacts of a sex offender registry," International Review of Law and Economics, Elsevier, vol. 44(C), pages 42-60.
    15. Steven B Caudill & Ermanno Affuso & Ming Yang, 2015. "Registered sex offenders and house prices: An hedonic analysis," Urban Studies, Urban Studies Journal Limited, vol. 52(13), pages 2425-2440, October.
    16. Andrés Domínguez, 2021. "Homicide rates and housing prices in Cali and Bogotá, D. C," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 40(83), pages 643-677, August.
    17. Adriana Villamarin Garcia, 2011. "Prevenir y calcular una estimacion de los costos de la violencia homicida en Colombia," Documentos de CERAC 9108, CERAC -Centro de Recursos para el Análisis de Conflictos.
    18. Arthur Acolin & Rebecca J. Walter & Marie Skubak Tillyer & Johanna Lacoe & Raphael Bostic, 2022. "Spatial spillover effects of crime on private investment at nearby micro-places," Urban Studies, Urban Studies Journal Limited, vol. 59(4), pages 834-850, March.
    19. Brushwood, James & Dhaliwal, Dan & Fairhurst, Douglas & Serfling, Matthew, 2016. "Property crime, earnings variability, and the cost of capital," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 142-173.
    20. Contreras, Víctor & Garay, Urbi & Santos, Miguel Angel & Betancourt, Cosme, 2014. "Expropriation risk and housing prices: Evidence from an emerging market," Journal of Business Research, Elsevier, vol. 67(5), pages 935-942.

    More about this item

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:114:y:2004:i:499:p:f441-f463. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.