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Spatial analysis of the relationship between housing values and investments in transportation infrastructure

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  • Brian A. Mikelbank

Abstract

The relationship between residential location, location value and accessibility has been of long interest to regional scientists. Studies investigating the relationship between house price and changes in accessibility, however, have been fewer in number, and predominantly have centered upon the house price impact of fixed rail investments. Neglected have been the impacts of smaller road investments made on a regular basis by municipalities and state departments of transportation. This research therefore reports on the spatial relationship between house price and investment in road-based transportation infrastructure by combining two spatial databases, both centered on Columbus, OH. The first contains information on all single-family detached houses sold in 1990. The second contains detailed spatial and temporal information on all accessibility-changing road investments in the same area, since 1978. Results indicate that while moderate, past, current and approved (but not begun) road investments have distinct and significant impacts on house price. Copyright Springer-Verlag 2004

Suggested Citation

  • Brian A. Mikelbank, 2004. "Spatial analysis of the relationship between housing values and investments in transportation infrastructure," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 38(4), pages 705-726, December.
    • Handle: RePEc:spr:anresc:v:38:y:2004:i:4:p:705-726
    DOI: 10.1007/s00168-003-0187-0
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    Citations

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    Cited by:

    1. Average Chigwenya & Dube Desire, 2019. "Infrastructure Development and Property Sales in Low Income Residential Properties in Bulawayo," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 7(1), pages 123-134, January.
    2. Luisa Dörr & Stefanie Gäbler, 2022. "Does Highway Access Influence Local Employment? Evidence from German Municipalities," ifo Working Paper Series 377, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    3. Macfarlane, Gregory S. & Garrow, Laurie A. & Moreno-Cruz, Juan, 2015. "Do Atlanta residents value MARTA? Selecting an autoregressive model to recover willingness to pay," Transportation Research Part A: Policy and Practice, Elsevier, vol. 78(C), pages 214-230.
    4. Sidorovykh, Aleksandra, 2015. "Estimation of effects of transport accessibility on housing prices," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 37(1), pages 43-56.
    5. Luisa Dörr & Stefanie Gäbler, 2020. "Does Highway Accessibility Influence Local Tax Factors? Evidence from German Municipalities," ifo Working Paper Series 321, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    6. Veronique Van Acker & Frank Witlox, 2005. "Exploring the relationship between land-use system and travel behaviour - some first findings," ERSA conference papers ersa05p601, European Regional Science Association.
    7. Eric J. Brunner & David J. Schwegman, 2022. "Windfall revenues from windfarms: How do county governments respond to increases in the local tax base induced by wind energy installations?," Public Budgeting & Finance, Wiley Blackwell, vol. 42(3), pages 93-113, September.
    8. Theis Theisen & Anne Wenche Emblem, 2021. "The Road to Higher Prices: Will Improved Road Standards Lead to Higher Housing Prices?," The Journal of Real Estate Finance and Economics, Springer, vol. 62(2), pages 258-282, February.
    9. Rebelo, Emília Malcata, 2017. "Land betterment capture revisited: A methodology for territorial plans," Land Use Policy, Elsevier, vol. 69(C), pages 392-407.
    10. Li, Zhi-Chun & Chen, Ya-Juan & Wang, Ya-Dong & Lam, William H.K. & Wong, S.C., 2013. "Optimal density of radial major roads in a two-dimensional monocentric city with endogenous residential distribution and housing prices," Regional Science and Urban Economics, Elsevier, vol. 43(6), pages 927-937.
    11. Shlomie Hazam & Daniel Felsenstein, 2007. "Terror, Fear and Behaviour in the Jerusalem Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 44(13), pages 2529-2546, December.
    12. Xia Feng & Brad R. Humphreys, 2008. "Assessing the Economic Impact of Sports Facilities on Residential Property Values: A Spatial Hedonic Approach," Working Papers 0812, International Association of Sports Economists;North American Association of Sports Economists.
    13. Ekaterina Chernobai & Michael Reibel & Michael Carney, 2011. "Nonlinear Spatial and Temporal Effects of Highway Construction on House Prices," The Journal of Real Estate Finance and Economics, Springer, vol. 42(3), pages 348-370, April.
    14. Yang Xiao & Chris Webster & Scott Orford, 2016. "Identifying house price effects of changes in urban street configuration: An empirical study in Nanjing, China," Urban Studies, Urban Studies Journal Limited, vol. 53(1), pages 112-131, January.
    15. Hu, Mingzhi & Su, Yinxin & Ye, Wenping, 2019. "Promoting or inhibiting: The role of housing price in entrepreneurship," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    16. Yang, Xiaozhong & Zhang, Cheng, 2022. "Spatial investments in the real estate industry: Based on the population flow within the city," Journal of Business Research, Elsevier, vol. 140(C), pages 593-603.

    More about this item

    Keywords

    R31; H54;

    JEL classification:

    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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