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On Space-Time Changes of Hedonic Prices for Single Family Houses

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  • Sandberg, Krister

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Abstract

In this paper we estimate hedonic prices for single-family houses in two Swedish counties between the years 1994 and 2000. Structural and neighbourhood characteristics together with accessibility measures are used as attributes in the hedonic price function. Since there are indications of spatial dependence we estimate the hedonic price functions using Spatial Autoregressive Maximum Likelihood. Besides the two county capitals other local centres are found to influence the prices. The importance of the attributes also changes over both space and time.

Suggested Citation

  • Sandberg, Krister, 2002. "On Space-Time Changes of Hedonic Prices for Single Family Houses," ERSA conference papers ersa02p196, European Regional Science Association.
  • Handle: RePEc:wiw:wiwrsa:ersa02p196
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    File URL: http://www-sre.wu.ac.at/ersa/ersaconfs/ersa02/cd-rom/papers/196.pdf
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    5. 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..
    6. Cheshire, Paul & Sheppard, Stephen, 1995. "On the Price of Land and the Value of Amenities," Economica, London School of Economics and Political Science, vol. 62(246), pages 247-267, May.
    7. Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, vol. 78(1), pages 89-107, March.
    8. Peter F. Colwell, 1990. "Power Lines and Land Value," Journal of Real Estate Research, American Real Estate Society, vol. 5(1), pages 117-128.
    9. Andrew J. Buck & Joseph Deutsch & Simon Hakim & Uriel Spiegel & J. Weinblatt, 1991. "A Von Thünen Model of Crime, Casinos and Property Values in New Jersey," Urban Studies, Urban Studies Journal Limited, vol. 28(5), pages 673-686, October.
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