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Testing for the impact of local spatial structure characteristics on house prices

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  • Osland, Liv

    ()
    (Stord/Haugesund University College)

  • Thorsen, Inge

    ()
    (Stord/Haugesund University College)

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    Abstract

    The starting point of this paper is a hedonic regression model where house prices are explained as a result of urban attraction and the accessibility to job opportunities in the region. We introduce the hypothesis that households in addition value accessibility to job opportunities in the neighborhood, and study if and how this is reflected in house prices. We propose several measures of local labor market characteristics, and test for the impact on house prices. The alternative measures do not add considerably to the explanatory power. Still, some characteristics contribute significantly, and affect the strength and interpretation of the relationship between local labor market conditions and house prices.

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    File URL: http://www.uib.no/filearchive/No.%2015-07.pdf
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    Bibliographic Info

    Paper provided by University of Bergen, Department of Economics in its series Working Papers in Economics with number 15/07.

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    Length: 31 pages
    Date of creation: 06 Dec 2007
    Date of revision:
    Handle: RePEc:hhs:bergec:2007_015

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    Postal: Institutt for √łkonomi, Universitetet i Bergen, Postboks 7802, 5020 Bergen, Norway
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    Web page: http://www.uib.no/econ/en
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    Related research

    Keywords: Housing Demand; Housing Supply and Markets;

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    1. Anas, Alex & Arnott, Richard & Small, Kenneth A., 1997. "Urban Spatial Structure," University of California Transportation Center, Working Papers qt835049q3, University of California Transportation Center.
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