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Housing Price Gradients in a Region with One Dominating Center

  • Liv Osland


    (Stord/Haugesund University College,Bjørnsonsgt. 45, 5528 Haugesund, Norway)

  • Inge Thorsen

    (Stord/Haugesund University College, Bjørnsonsgt. 45, 5528 Haugesund, Norway)

  • Jens Petter Gitlesen

    (University of Stavanger, 4036 Stavanger, Norway)

Registered author(s):

    This paper primarily focuses on predicting housing price gradients in a Norwegian region with one dominating center. Spatial separation is represented by a function of the traveling distance from the city center in a traditional hedonic regression equation. Several functions are tested, and some alternatives provide a satisfying goodness-of-fit, consistent coefficient estimates, and intuitively reasonable predictions of housing price gradients. Still, not all commonly used functions are recommended. The findings also indicate that the strength of spatial autocorrelation is reduced when the hedonic function is properly specified.

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    Article provided by American Real Estate Society in its journal journal of Real Estate Research.

    Volume (Year): 29 (2007)
    Issue (Month): 3 ()
    Pages: 321-346

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    Handle: RePEc:jre:issued:v:29:n:3:2007:p:321-346
    Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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    Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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    1. Waddell, Paul & Berry, Brian J L & Hoch, Irving, 1993. "Residential Property Values in a Multinodal Urban Area: New Evidence on the Implicit Price of Location," The Journal of Real Estate Finance and Economics, Springer, vol. 7(2), pages 117-41, September.
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