IDEAS home Printed from https://ideas.repec.org/p/ags/aare07/10418.html
   My bibliography  Save this paper

Valuing Urban Wetlands of the Gnangara Mound: A Hedonic Property Price Approach in Western Australia

Author

Listed:
  • Tapsuwan, Sorada
  • Ingram, Gordon
  • Brennan, Donna C.

Abstract

Up to 60% of potable water supplied to Perth in Western Australia is extracted from the Gnangara mound. Many of the urban wetlands above the Mound are groundwater-dependent. Excessive groundwater extraction and climate change have resulted in a decline in water levels in the wetlands. This study estimates the value of urban wetlands in three local government districts in the Perth metropolitan region using the hedonic property price approach. Preliminary results found that proximity to wetlands influences the sales prices of properties. The marginal implicit price of reducing the distance to the nearest wetland by 1 metre, evaluated at the mean sales value, is AU$463. If there is more than one wetland within 1.5 kilometres of a property, the second wetland will help increase the property price by AU$6,081. For a 50 ha wetland, we estimate the total premium of on sales due to wetland proximity is AU$220 million, based on average property characteristics and medium house density. These results will help inform policy makers and land developers on the value of conserving existing urban wetlands, creating new wetland areas and urbanising rural wetlands.

Suggested Citation

  • Tapsuwan, Sorada & Ingram, Gordon & Brennan, Donna C., 2007. "Valuing Urban Wetlands of the Gnangara Mound: A Hedonic Property Price Approach in Western Australia," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10418, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare07:10418
    DOI: 10.22004/ag.econ.10418
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/10418/files/cp07ta02.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.10418?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Land Economics/Use;

    Statistics

    Access and download statistics

    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:ags:aare07:10418. See general information about how to correct material in RePEc.

    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 bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.