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

Author

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

Abstract

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

Suggested Citation

  • Karen Mayor & Seán Lyons & David Duffy & Richard S. J. Tol, 2012. "A Hedonic Analysis of the Value of Rail Transport in the Greater Dublin Area," Journal of Transport Economics and Policy, University of Bath, vol. 46(2), pages 239-261, May.
    • Handle: RePEc:tpe:jtecpo:v:46:y:2012:i:2:p:239-261
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    Cited by:

    1. Rémy Le Boennec & Julie Bulteau & Thierry Feuillet, 2022. "The role of commuter rail accessibility in the formation of residential land values: exploring spatial heterogeneity in peri-urban and remote areas," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 69(1), pages 163-186, August.
    2. Shanaka Herath, 2021. "Elevating the Value of Urban Location: A Consumer Preference-Based Approach to Valuing Local Amenity Provision," Land, MDPI, vol. 10(11), pages 1-14, November.
    3. Ronan Lyons, 2012. "Inside a bubble and crash: Evidence from the valuation of amenities," ERES eres2012_065, European Real Estate Society (ERES).
    4. Hao Wu & Paolo Avner & Genevieve Boisjoly & Carlos K. V. Braga & Ahmed El-Geneidy & Jie Huang & Tamara Kerzhner & Brendan Murphy & Michał A. Niedzielski & Rafael H. M. Pereira & John P. Pritchard & A, 2022. "Urban access across the globe: an international comparison of different transport modes," Working Papers 2021-01, University of Minnesota: Nexus Research Group.
    5. Isabelle Nicolaï & Rémy Le Boennec, 2018. "Smart mobility providing smart cities," Post-Print halshs-01794612, HAL.
    6. Seya, Hajime & Yoshida, Takahiro & Tsutsumi, Morito, 2016. "Ex-post identification of geographical extent of benefited area by a transportation project: Functional data analysis method," Journal of Transport Geography, Elsevier, vol. 55(C), pages 1-10.
    7. Rennert, Lindiwe, 2022. "A meta-analysis of the impact of rail stations on property values: Applying a transit planning lens," Transportation Research Part A: Policy and Practice, Elsevier, vol. 163(C), pages 165-180.
    8. Keane, Claire & Walsh, John R. & Callan, Tim & Savage, Michael, 2012. "Property Tax in Ireland: Key Choices," Papers EC11, Economic and Social Research Institute (ESRI).
    9. Mirko Moro & Karen Mayor & Seán Lyons & Richard S J Tol, 2013. "Does the Housing Market Reflect Cultural Heritage? A Case Study of Greater Dublin," Environment and Planning A, , vol. 45(12), pages 2884-2903, December.
    10. Lee, Brian & Wang, Szu-Yung & Lin, Tzu-Chin & Chang, Hung-Hao, 2021. "Underground pipeline explosions and housing prices: Quasi-experimental evidence from an urban city," Land Use Policy, Elsevier, vol. 111(C).
    11. D’Arcangelo, Filippo Maria & Percoco, Marco, 2015. "Housing rent and road pricing in Milan: Evidence from a geographical discontinuity approach," Transport Policy, Elsevier, vol. 44(C), pages 108-116.
    12. Wei He & Ruqing Zhao & Shu Gao, 2024. "Exploring the Impact of Multimodal Access on Property and Land Economies in Shanghai’s Inner Ring Districts: Leveraging Advanced Spatial Analysis Techniques," Land, MDPI, vol. 13(3), pages 1-19, February.
    13. Curtis, John & Devitt, Niamh & di Cosmo, Valeria & Farrell, Niall & FitzGerald, John & Hyland, Marie & Lynch, Muireann & Lyons, Sean & McCoy, Daire & Malaguzzi Valeri, Laura & Walsh, Darragh, 2014. "Irish Energy Policy: An Analysis of Current Issues," Research Series, Economic and Social Research Institute (ESRI), number rs37 edited by FitzGerald, John & Malaguzzi Valeri, Laura.
    14. repec:tcd:tcduee:tep051 is not listed on IDEAS
    15. Dubé, Jean & Le Gallo, Julie & Des Rosiers, François & Legros, Diègo & Champagne, Marie-Pier, 2024. "An integrated causal framework to evaluate uplift value with an example on change in public transport supply," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 185(C).
    16. Hao Wu & David Levinson, 2020. "Unifying Access," Working Papers 2022-01, University of Minnesota: Nexus Research Group.
    17. Tideman, Nicolaus & Plassmann, Florenz, 2018. "The effects of changes in land value on the value of buildings," Regional Science and Urban Economics, Elsevier, vol. 69(C), pages 69-76.

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