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A Hedonic Analysis of the Value of Rail Transport in the Greater Dublin Area

Author

Listed:
  • Mayor, Karen

    (ESRI)

  • Lyons, Seán

    (ESRI)

  • Duffy, David

    (ESRI)

  • Tol, Richard S. J.

    (ESRI)

Abstract

We use a hedonic house price model to estimate the value of transport networks to homeowners in the Dublin area. Using a dataset of house sales between 2001 and 2006 and combining it with available geographical information system data on the train and tram lines in Dublin, it is possible to assess the values assigned to different transport links by homeowners. We find that the value of transport depends on how far from the property it is located and is also affected by the availability of alternative transport options in the area. There are differences in the values assigned to recently constructed tramlines compared to the traditional rapid transit train stations. The study also takes into account house characteristics and other environmental amenities.

Suggested Citation

  • Mayor, Karen & Lyons, Seán & Duffy, David & Tol, Richard S. J., 2008. "A Hedonic Analysis of the Value of Rail Transport in the Greater Dublin Area," Papers WP264, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esr:wpaper:wp264
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    References listed on IDEAS

    as
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    Cited by:

    1. Rémy Le Boennec & Julie Bulteau & Thierry Feuillet, 2022. "The role of commuter rail accessibility in the formation of residential land values: exploring spatial heterogeneity in peri-urban and remote areas," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(1), pages 163-186, August.
    2. Shanaka Herath, 2021. "Elevating the Value of Urban Location: A Consumer Preference-Based Approach to Valuing Local Amenity Provision," Land, MDPI, vol. 10(11), pages 1-14, November.
    3. Rennert, Lindiwe, 2022. "A meta-analysis of the impact of rail stations on property values: Applying a transit planning lens," Transportation Research Part A: Policy and Practice, Elsevier, vol. 163(C), pages 165-180.
    4. Keane, Claire & Walsh, John R. & Callan, Tim & Savage, Michael, 2012. "Property Tax in Ireland: Key Choices," Papers EC11, Economic and Social Research Institute (ESRI).
    5. Ronan C. Lyons, 2013. "Inside a Bubble and Crash – Evidence from the Valuation of Amenities," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    6. Mirko Moro & Karen Mayor & Seán Lyons & Richard S J Tol, 2013. "Does the Housing Market Reflect Cultural Heritage? A Case Study of Greater Dublin," Environment and Planning A, , vol. 45(12), pages 2884-2903, December.
    7. Wei He & Ruqing Zhao & Shu Gao, 2024. "Exploring the Impact of Multimodal Access on Property and Land Economies in Shanghai’s Inner Ring Districts: Leveraging Advanced Spatial Analysis Techniques," Land, MDPI, vol. 13(3), pages 1-19, February.
    8. Curtis, John & Devitt, Niamh & di Cosmo, Valeria & Farrell, Niall & FitzGerald, John & Hyland, Marie & Lynch, Muireann & Lyons, Sean & McCoy, Daire & Malaguzzi Valeri, Laura & Walsh, Darragh, 2014. "Irish Energy Policy: An Analysis of Current Issues," Research Series, Economic and Social Research Institute (ESRI), number rs37 edited by FitzGerald, John & Malaguzzi Valeri, Laura, June.
    9. Hao Wu & David Levinson, 2020. "Unifying Access," Working Papers 2022-01, University of Minnesota: Nexus Research Group.
    10. Hao Wu & Paolo Avner & Genevieve Boisjoly & Carlos K. V. Braga & Ahmed El-Geneidy & Jie Huang & Tamara Kerzhner & Brendan Murphy & Michał A. Niedzielski & Rafael H. M. Pereira & John P. Pritchard & A, 2022. "Urban access across the globe: an international comparison of different transport modes," Working Papers 2021-01, University of Minnesota: Nexus Research Group.
    11. Isabelle Nicolaï & Rémy Le Boennec, 2018. "Smart mobility providing smart cities," Post-Print halshs-01794612, HAL.
    12. Seya, Hajime & Yoshida, Takahiro & Tsutsumi, Morito, 2016. "Ex-post identification of geographical extent of benefited area by a transportation project: Functional data analysis method," Journal of Transport Geography, Elsevier, vol. 55(C), pages 1-10.
    13. Lee, Brian & Wang, Szu-Yung & Lin, Tzu-Chin & Chang, Hung-Hao, 2021. "Underground pipeline explosions and housing prices: Quasi-experimental evidence from an urban city," Land Use Policy, Elsevier, vol. 111(C).
    14. D’Arcangelo, Filippo Maria & Percoco, Marco, 2015. "Housing rent and road pricing in Milan: Evidence from a geographical discontinuity approach," Transport Policy, Elsevier, vol. 44(C), pages 108-116.
    15. repec:tcd:tcduee:tep051 is not listed on IDEAS
    16. Tideman, Nicolaus & Plassmann, Florenz, 2018. "The effects of changes in land value on the value of buildings," Regional Science and Urban Economics, Elsevier, vol. 69(C), pages 69-76.

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    Keywords

    Geographical Information System/Hedonic Regression/Train/Tram/Transport Network;

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