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A Hedonic Analysis of the Value of Rail Transport in the Greater Dublin Area

  • Karen Mayor
  • Seán Lyons
  • David Duffy
  • Richard S. J. Tol

We use a hedonic house price model to estimate the value of transport networks to homeowners in the Dublin area. Using a data set of house sales and data on rail lines in Dublin, we assess the values assigned to different transport links by homeowners. We find that the value attributed to transport depends on its distance from a property and is affected by the availability of alternative transport options. There are differences in the values assigned to recently constructed tramlines compared to the traditional rapid transit train stations. The study also takes into account house characteristics and other environmental amenities. © 2012 LSE and the University of Bath

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Article provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy (JTEP).

Volume (Year): 46 (2012)
Issue (Month): 2 (May)
Pages: 239-261

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Handle: RePEc:tpe:jtecpo:v:46:y:2012:i:2:p:239-261
Contact details of provider: Web page: http://www.bath.ac.uk/e-journals/jtep

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  1. Robert Armstrong & Daniel Rodríguez, 2006. "An Evaluation of the Accessibility Benefits of Commuter Rail in Eastern Massachusetts using Spatial Hedonic Price Functions," Transportation, Springer, vol. 33(1), pages 21-43, 01.
  2. Stephen Gibbons & Stephen Machin, 2008. "Valuing school quality, better transport, and lower crime: evidence from house prices," Oxford Review of Economic Policy, Oxford University Press, vol. 24(1), pages 99-119, spring.
  3. Bowes, David R. & Ihlanfeldt, Keith R., 2001. "Identifying the Impacts of Rail Transit Stations on Residential Property Values," Journal of Urban Economics, Elsevier, vol. 50(1), pages 1-25, July.
  4. Denis Conniffe & David Duffy, 1999. "Irish House Price Indices ? Methodological Issues," Papers WP110, Economic and Social Research Institute (ESRI).
  5. Baum-Snow, Nathaniel & Kahn, Matthew E., 2000. "The effects of new public projects to expand urban rail transit," Journal of Public Economics, Elsevier, vol. 77(2), pages 241-263, August.
  6. Steve Gibbons & Stephen Machin, 2004. "Valuing Rail Access Using Transport Innovations," CEP Discussion Papers dp0611, Centre for Economic Performance, LSE.
  7. Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
  8. Bae, Chang-Hee Christine & Jun, Myung-Jin & Park, Hyeon, 2003. "The impact of Seoul's subway Line 5 on residential property values," Transport Policy, Elsevier, vol. 10(2), pages 85-94, April.
  9. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  10. repec:cup:cbooks:9780521671583 is not listed on IDEAS
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