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

Author

Listed:
  • Mayor, Karen

    (ESRI)

  • Lyons, Seán

    (ESRI)

  • Duffy, David

    (ESRI)

  • Tol, Richard S. J.

    (ESRI)

Abstract

We use a hedonic house price model to estimate the value of transport networks to homeowners in the Dublin area. Using a dataset of house sales between 2001 and 2006 and combining it with available geographical information system data on the train and tram lines in Dublin, it is possible to assess the values assigned to different transport links by homeowners. We find that the value of transport depends on how far from the property it is located and is also affected by the availability of alternative transport options in the area. 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.

Suggested Citation

  • Mayor, Karen & Lyons, Seán & Duffy, David & Tol, Richard S. J., 2008. "A Hedonic Analysis of the Value of Rail Transport in the Greater Dublin Area," Papers WP264, Economic and Social Research Institute (ESRI).
  • Handle: RePEc:esr:wpaper:wp264
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    References listed on IDEAS

    as
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    Cited by:

    1. Keane, Claire & Walsh, John R. & Callan, Tim & Savage, Michael, 2012. "Property Tax in Ireland: Key Choices," Papers EC11, Economic and Social Research Institute (ESRI).
    2. Ronan C. Lyons, 2013. "Inside a Bubble and Crash – Evidence from the Valuation of Amenities," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    3. 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.
    4. 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.
    5. repec:tcd:tcduee:tep051 is not listed on IDEAS
    6. 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.
    7. Isabelle Nicolaï & Rémy Le Boennec, 2018. "Smart mobility providing smart cities," Post-Print halshs-01794612, HAL.
    8. 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.

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    Keywords

    Geographical Information System/Hedonic Regression/Train/Tram/Transport Network;

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