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Property Prices and Exposure to Multiple Noise Sources: Hedonic Regression with Road and Railway Noise

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Author Info

  • Andersson, Henrik

    ()
    (VTI)

  • Jonsson, Lina

    ()
    (VTI)

  • Ögren, Mikael

    ()
    (VTI)

Abstract

This study examines the effect of road and railway noise on property prices. It uses the hedonic regression technique on a Swedish data set that contains information about both road and railway noise for each property, and finds that road noise has a larger negative impact on the property prices than railway noise. This is in line with the evidence from the acoustical literature which has shown that individuals are more disturbed by road than railway noise, but contradicts recent results from a hedonic study on data of the United Kingdom.

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File URL: http://www.transportportal.se/SWoPEc/Andersson_etal_Hedonic_Lerum.pdf
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Bibliographic Info

Paper provided by Swedish National Road & Transport Research Institute (VTI) in its series Working Papers with number 2008:10.

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Length: 19 pages
Date of creation: 18 Sep 2008
Date of revision:
Publication status: Published in Environmental and Resource Economics, 2010, pages 73-89.
Handle: RePEc:hhs:vtiwps:2008_010

Contact details of provider:
Postal: VTI, Transport Economics, P.O. Box 6056, SE-171 06 Solna, Sweden
Phone: +46-13-20 40 00
Fax: +46-13-14 14 36
Email:
Web page: http://www.vti.se/tek
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Keywords: Hedonic Pricing; Noise; Railway Traffic; Road Traffic;

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References

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  1. Nijland, H. A. & Van Kempen, E. E. M. M. & Van Wee, G. P. & Jabben, J., 2003. "Costs and benefits of noise abatement measures," Transport Policy, Elsevier, vol. 10(2), pages 131-140, April.
  2. Henrik Andersson, 2008. "Willingness to Pay for Car Safety: Evidence from Sweden," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 41(4), pages 579-594, December.
  3. Ivar Ekeland & James Heckman & Lars Nesheim, 2002. "Identification and estimation of hedonic models," CeMMAP working papers CWP07/02, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  4. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  5. Andersson, Henrik & Ögren, Mikael, 2007. "Noise Charges in Road Traffic: A Pricing Schedule Based on the Marginal Cost Principle," Working Papers 2007:15, Swedish National Road & Transport Research Institute (VTI), revised 17 Jun 2009.
  6. Andersson, Henrik & Ögren, Mikael, 2007. "Noise charges in railway infrastructure: A pricing schedule based on the marginal cost principle," Transport Policy, Elsevier, vol. 14(3), pages 204-213, May.
  7. Jon P. Nelson, 2004. "Meta-Analysis of Airport Noise and Hedonic Property Values," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 38(1), pages 1-27, January.
  8. Kim, Chong Won & Phipps, Tim T. & Anselin, Luc, 1998. "Measuring The Benefits Of Air Quality Improvement: A Spatial Hedonic Approach," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20959, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  9. Kenneth A. Small & Seiji S.C. Steimetz, 2012. "Spatial Hedonics And The Willingness To Pay For Residential Amenities," Journal of Regional Science, Wiley Blackwell, vol. 52(4), pages 635-647, October.
  10. Brett Day & Ian Bateman & Iain Lake, 2007. "Beyond implicit prices: recovering theoretically consistent and transferable values for noise avoidance from a hedonic property price model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 211-232, May.
  11. Palmquist, Raymond B., 2006. "Property Value Models," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 16, pages 763-819 Elsevier.
  12. Freeman, A Myrick, III, 1974. "Air Pollution and Property Values: A Further Comment," The Review of Economics and Statistics, MIT Press, vol. 56(4), pages 554-56, November.
  13. Marcel A. J. Theebe, 2004. "Planes, Trains, and Automobiles: The Impact of Traffic Noise on House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 28(2_3), pages 209-234, 03.
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Citations

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Cited by:
  1. Swärdh, Jan-Erik & Andersson, Henrik & Jonsson, Lina & Ögren, Mikael, 2012. "Estimating non-marginal willingness to pay for railway noise abatement: application of the two-step hedonic regression technique," Working papers in Transport Economics 2012:27, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
  2. repec:zbw:cawmdp:64 is not listed on IDEAS
  3. Andersson, Henrik & Ögren, Mikael, 2012. "Charging the polluters: A pricing model for road and railway noise," LERNA Working Papers 12.26.383, LERNA, University of Toulouse.
  4. Johan Eyckmans & Simon De Jaeger & Sandra Rousseau, 2013. "Hedonic Valuation of Odor Nuisance Using Field Measurements: A Case Study of an Animal Waste Processing Facility in Flanders," Land Economics, University of Wisconsin Press, vol. 89(1), pages 53-75.
  5. Ioulia Ossokina & Gerard Verweij, 2011. "Quasi-experimental evidence on the effect of traffic externalities on housing prices," ERSA conference papers ersa11p606, European Regional Science Association.
  6. Lucija Muehlenbachs & Elisheba Spiller & Christopher Timmins, 2014. "The Housing Market Impacts of Shale Gas Development," NBER Working Papers 19796, National Bureau of Economic Research, Inc.
  7. Ioulia Ossokina & Gerard Verweij, 2014. "Urban traffic externalities: quasi-experimental evidence from housing prices," CPB Discussion Paper 267, CPB Netherlands Bureau for Economic Policy Analysis.
  8. Muehlenbachs, Lucija & Spiller, Elisheba & Timmins, Christopher, . "The Housing Market Impacts of Shale Gas Development," Discussion Papers dp-13-39-rev, Resources For the Future.
  9. Montero, José-María & Fernández-Avilés , Gema & Mínguez, Román, 2011. "Spatial Hedonic Pricing Models for Testing the Adequacy of Acoustic Areas in Madrid, Spain," Investigaciones Regionales, Asociación Española de Ciencia Regional, issue 21, pages 157-181.
  10. Muehlenbachs, Lucija & Spiller, Elisheba & Timmins, Christopher, 2013. "The Housing Market Impacts of Shale Gas Development," Discussion Papers dp-13-39, Resources For the Future.

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