Does the housing market value heritage? Some empirical evidence
This paper discusses an empirical study conducted in Sydney’s upper north shore with the primary aim of estimating the market price differential between heritage-listed and regular, unlisted houses using the hedonic price technique. The research also examined the relationship between market price and the level of heritage significance of heritage houses. After controlling for main property attributes, heritage- listed houses were found to enjoy a premium over unlisted houses. This premium is a measure of the combined value placed by the market on both, the heritage character of houses and their statutory listing status. The level of heritage significance was also found to have a positive influence on price.
|Date of creation:||Mar 2004|
|Date of revision:|
|Contact details of provider:|| Postal: Sydney NSW 2109|
Web page: http://www.econ.mq.edu.au/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:mac:wpaper:0403. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Boneham)
If references are entirely missing, you can add them using this form.