IDEAS home Printed from https://ideas.repec.org/a/ids/ijecbr/v3y2011i5p576-592.html
   My bibliography  Save this article

Estimating the impact of road traffic pricing on residential property values: an investigation of the London congestion charge

Author

Listed:
  • John Glen
  • Joseph G. Nellis

Abstract

A congestion charge was introduced in the centre of London in February 2003. At the outset, the charge was justified by local policy makers on the basis of an expected reduction in car journeys which would result in improvements in environmental amenity, relating to increased journey speeds across all transport modes, reduced accidents and reduced pollution. In so far as this proved to be the case we would expect the improved environmental amenity to be capitalised into increased local residential property values. Simultaneously, vocal 'anti' traffic congestion charge lobbies suggested that the introduction of such a scheme would be detrimental to local residents in terms of increased motoring costs and the inability of road pricing to deliver expected benefits. This paper examines the extent to which these competing influences on residential property values have impacted house prices in Greater London subsequent to the introduction of road pricing.

Suggested Citation

  • John Glen & Joseph G. Nellis, 2011. "Estimating the impact of road traffic pricing on residential property values: an investigation of the London congestion charge," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 3(5), pages 576-592.
  • Handle: RePEc:ids:ijecbr:v:3:y:2011:i:5:p:576-592
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=42319
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijecbr:v:3:y:2011:i:5:p:576-592. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Carmel O'Grady). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID==310 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.