The value of a view: A spatial hedonic analysis
AbstractThis 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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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal New Zealand Economic Papers.
Volume (Year): 42 (2008)
Issue (Month): 1 ()
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Web page: http://www.tandfonline.com/RNZP20
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- 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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