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Habitat preservation and restoration: Do homebuyers have preferences for quality habitat?

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  • Bark, R.H.
  • Osgood, D.E.
  • Colby, B.G.
  • Katz, G.
  • Stromberg, J.

Abstract

This research examines homebuyers' preferences for nearby riparian habitat, an important issue because quality riparian habitat competes for water resources with other activities in semi-arid regions and because federal and local governments allocate significant resources to riparian habitat preservation and restoration plans. Riparian vegetation surveys comprising comprehensive measures of the ecological characteristics of riparian habitat were completed in the metropolitan Tucson study area and the data incorporated into a hedonic analysis of single family residential house prices. The results indicate that high quality riparian habitat adds value to nearby homes and that instead of indiscriminately valuing "green" open space, nearby homebuyers distinguish between biologically significant riparian vegetation characteristics. This research also suggests that it is worthwhile to account for the heterogeneity of natural amenities in hedonic analysis. Furthermore the results suggest that riparian preservation and restoration programs are more likely to receive public support if they incorporate features that are preferred by nearby homeowners. Our study's results show that household preferences for existing riparian habitat match features of the ecologically-functional riparian habitat envisaged in a recently funded joint federal-city urban riparian restoration project in Tucson, Arizona.

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  • Bark, R.H. & Osgood, D.E. & Colby, B.G. & Katz, G. & Stromberg, J., 2009. "Habitat preservation and restoration: Do homebuyers have preferences for quality habitat?," Ecological Economics, Elsevier, vol. 68(5), pages 1465-1475, March.
    • Handle: RePEc:eee:ecolec:v:68:y:2009:i:5:p:1465-1475
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    Cited by:

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    3. Parvin Mahmoudi & Darla Hatton MacDonald & Neville D. Crossman & David M. Summers & John van der Hoek, 2013. "Space matters: the importance of amenity in planning metropolitan growth," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 38-59, January.
    4. Mahmoudi, Parvin & MacDonald, Darla Hatton & Crossman, Neville D. & Summers, David M. & van der Hoek, John, 2013. "Space matters: the importance of amenity in planning metropolitan growth," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(1), pages 1-22.
    5. Marisa J. Mazzotta & Elena Besedin & Ann E. Speers, 2014. "A Meta-Analysis of Hedonic Studies to Assess the Property Value Effects of Low Impact Development," Resources, MDPI, vol. 3(1), pages 1-31, January.
    6. James R. Meldrum, 2016. "Floodplain Price Impacts by Property Type in Boulder County, Colorado: Condominiums Versus Standalone Properties," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(4), pages 725-750, August.
    7. Sheila M. Olmstead, 2010. "The Economics of Managing Scarce Water Resources," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 4(2), pages 179-198, Summer.
    8. Toke Emil Panduro & Cathrine Ulla Jensen & Thomas Hedemark Lundhede & Kathrine von Graevenitz & Bo Jellesmark Thorsen, 2016. "Estimating demand schedules in hedonic analysis: The case of urban parks," IFRO Working Paper 2016/06, University of Copenhagen, Department of Food and Resource Economics.
    9. Ram Pandit & Maksym Polyakov & Rohan Sadler, 2014. "Valuing public and private urban tree canopy cover," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(3), pages 453-470, July.
    10. Catarina Archer de Carvalho & Mauro Raposo & Carlos Pinto-Gomes & Rute Matos, 2022. "Native or Exotic: A Bibliographical Review of the Debate on Ecological Science Methodologies: Valuable Lessons for Urban Green Space Design," Land, MDPI, vol. 11(8), pages 1-17, July.
    11. Belcher, Richard N. & Chisholm, Ryan A., 2018. "Tropical Vegetation and Residential Property Value: A Hedonic Pricing Analysis in Singapore," Ecological Economics, Elsevier, vol. 149(C), pages 149-159.
    12. Kuwayama, Yusuke & Olmstead, Sheila & Krupnick, Alan, 2013. "Water Resoures and Unconventional Fossil Fuel Development: Linking Physical Impacts to Social Costs," RFF Working Paper Series dp-13-34, Resources for the Future.
    13. Bark, Rosalind H. & Osgood, Daniel E. & Colby, Bonnie G. & Halper, Eve B., 2011. "How Do Homebuyers Value Different Types of Green Space?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), pages 1-21, August.
    14. Todd BenDor & T William Lester & Avery Livengood & Adam Davis & Logan Yonavjak, 2015. "Estimating the Size and Impact of the Ecological Restoration Economy," PLOS ONE, Public Library of Science, vol. 10(6), pages 1-15, June.

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