Testing for the impact of local spatial structure characteristics on house prices
AbstractThe 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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Bibliographic InfoPaper provided by University of Bergen, Department of Economics in its series Working Papers in Economics with number 15/07.
Length: 31 pages
Date of creation: 06 Dec 2007
Date of revision:
Contact details of provider:
Postal: Institutt for økonomi, Universitetet i Bergen, Postboks 7802, 5020 Bergen, Norway
Web page: http://www.uib.no/econ/en
More information through EDIRC
Housing Demand; Housing Supply and Markets;
Find related papers by JEL classification:
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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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