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Is Comprehensive Education Really Free? A Study of the Effects of Secondary School Admissions Policies on House Prices

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Author Info

  • Leech, D.
  • Campos, E.

Abstract

This paper reports on a study that tests the anecdotal hypothesis that the prices of houses near popular comprehensive schools carry a premium. Since local education authorities use admissions policies based on catchment areas and places in popular schools are very hard to obtain from outside these areas - but easy from within them - parents have an incentive to move house for the sake of their children's education. This would be expected to be reflected in house prices. The study uses a cross sectional sample based on two popular schools in Coventry.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp581a.pdf
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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 581.

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Length: 33 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:wrk:warwec:581

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Postal: CV4 7AL COVENTRY
Phone: +44 (0) 2476 523202
Fax: +44 (0) 2476 523032
Web page: http://www2.warwick.ac.uk/fac/soc/economics/
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Keywords: PRICES ; SCHOOLS ; EDUCATION;

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References

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  1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  2. Freeman, A Myrick, III, 1979. " Hedonic Prices, Property Values and Measuring Environmental Benefits: A Survey of the Issues," Scandinavian Journal of Economics, Wiley Blackwell, Wiley Blackwell, vol. 81(2), pages 154-73.
  3. Sheppard, Stephen, 1999. "Hedonic analysis of housing markets," Handbook of Regional and Urban Economics, Elsevier, in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 41, pages 1595-1635 Elsevier.
  4. Can, Ayse & Megbolugbe, Isaac, 1997. "Spatial Dependence and House Price Index Construction," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 14(1-2), pages 203-22, Jan.-Marc.
  5. Sandra E. Black, 1997. "Do better schools matter? Parental valuation of elementary education," Research Paper, Federal Reserve Bank of New York 9729, Federal Reserve Bank of New York.
  6. Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November.
  7. Kim, Sunwoong, 1992. "Search, Hedonic Prices and Housing Demand," The Review of Economics and Statistics, MIT Press, vol. 74(3), pages 503-08, August.
  8. Dubin, Robin A, 1998. "Predicting House Prices Using Multiple Listings Data," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 17(1), pages 35-59, July.
  9. Edward Shinnick, 1997. "Measuring Irish housing quality," Journal of Economic Studies, Emerald Group Publishing, Emerald Group Publishing, vol. 24(1/2), pages 95-119, January.
  10. Palmquist, Raymond B, 1984. "Estimating the Demand for the Characteristics of Housing," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 394-404, August.
  11. David M. Brasington, 1999. "Which Measures of School Quality Does the Housing Market Value?," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 18(3), pages 395-414.
  12. repec:lan:wpaper:1016 is not listed on IDEAS
  13. Epple, Dennis, 1987. "Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 95(1), pages 59-80, February.
  14. Meese, Richard A & Wallace, Nancy E, 1997. "The Construction of Residential Housing Price Indices: A Comparison of Repeat-Sales, Hedonic-Regression and Hybrid Approaches," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 14(1-2), pages 51-73, Jan.-Marc.
  15. Steve Gibbons & Stephen Machin, 2001. "Valuing Primary Schools," CEE Discussion Papers, Centre for the Economics of Education, LSE 0015, Centre for the Economics of Education, LSE.
  16. Cheshire, Paul & Sheppard, Stephen, 1998. "Estimating the Demand for Housing, Land, and Neighbourhood Characteristics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 357-82, August.
  17. Bradley, Steve & Taylor, Jim, 1998. "The Effect of School Size on Exam Performance in Secondary Schools," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 291-324, August.
  18. repec:lan:wpaper:1092 is not listed on IDEAS
  19. Mills, Edwin S. & Simenauer, Ronald, 1996. "New Hedonic Estimates of Regional Constant Quality House Prices," Journal of Urban Economics, Elsevier, vol. 39(2), pages 209-215, March.
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Citations

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Cited by:
  1. Steve Gibbons & Stephen Machin, 2001. "Valuing Primary Schools," CEE Discussion Papers, Centre for the Economics of Education, LSE 0015, Centre for the Economics of Education, LSE.
  2. Stephen Gibbons & Anne Green & Paul Gregg & Stephen Machin, 2005. "Is Britain Pulling Apart? Area Disparities in Employment, Education and Crime," The Centre for Market and Public Organisation, Department of Economics, University of Bristol, UK 05/120, Department of Economics, University of Bristol, UK.
  3. Sofia N. Andreou & Panos Pashardes, 2012. "Consumers’ Valuation of Level and Egalitarian Education Attainment of Schools in England," University of Cyprus Working Papers in Economics, University of Cyprus Department of Economics 10-2012, University of Cyprus Department of Economics.

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