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The value of a view: A spatial hedonic analysis

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  • Oshadhi Samarasinghe
  • Basil Sharp
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    Abstract

    This study estimates the value of a view amenity in the owner occupied residential property market in Auckland. Several dimensions of a view are analysed: type of view, scope of view and distance to the coast. To improve efficiency, heteroscedasticity and autocorrelation consistent covariances are estimated. Results suggest that a view adds significantly to the value of a residential property, where a wide water view closer to the coast has the highest positive impact. It is found that a wide water view increases the mean sale price approximately by 44% at the coastline.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/00779950809544413
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal New Zealand Economic Papers.

    Volume (Year): 42 (2008)
    Issue (Month): 1 ()
    Pages: 59-78

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    Handle: RePEc:taf:nzecpp:v:42:y:2008:i:1:p:59-78

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    Web page: http://www.tandfonline.com/RNZP20

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    Related research

    Keywords: hedonic analysis; water view;

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    Cited by:
    1. Julia Koschinsky & Nancy Lozano-Gracia & Gianfranco Piras, 2012. "The welfare benefit of a home’s location: an empirical comparison of spatial and non-spatial model estimates," Journal of Geographical Systems, Springer, vol. 14(3), pages 319-356, July.

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