Spatial Determinants of Land Prices in Auckland:Does the Metropolitan Urban Limit Have an Effect?
AbstractLand prices within monocentric cities typically decline from the centre to the urban periphery. More complex patterns are observed in polycentric and coastal cities; discrete jumps in value can occur across zoning boundaries. Information on these patterns within Auckland is important to understand: (a) the nature of Auckland's development, including the impact of infrastructure investments; and (b) the effects of regulation in causing discrete land valuation changes. One such regulation in Auckland is the metropolitan urban limit (MUL); we specifically examine whether the existence of this growth limit affects land prices. We do so in the context of a model of all Auckland land values over a twelve-year period, finding a strong zoning boundary effect on land prices.
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Bibliographic InfoPaper provided by Motu Economic and Public Policy Research in its series Working Papers with number 07_09.
Length: 50 pages
Date of creation: Aug 2007
Date of revision:
growth limits; zoning restrictions; boundary effects; land value gradients;
Find related papers by JEL classification:
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
- R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
This paper has been announced in the following NEP Reports:
- NEP-AGR-2007-08-18 (Agricultural Economics)
- NEP-ALL-2007-08-18 (All new papers)
- NEP-GEO-2007-08-18 (Economic Geography)
- NEP-REG-2007-08-18 (Regulation)
- NEP-URE-2007-08-18 (Urban & Real Estate Economics)
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