The impact of labour market accessibility on housing prices
In this paper we study the relationship between labour market accessibility and housing prices in a Norwegian region. Through a hedonic approach we estimate implicit prices for a location with a marginally improved labour market accessibility. We test alternative measures of spatial separation between residential location alternatives and job opportunities. Gravity based accessibility measures in general improve model performance compared to a standard approach with one-dimensional measures of distance. We also discuss how sensitive the results are with respect to the delimitation of the geography. Based on our empirical results we finally enter into the discussion of how changes in the transportation infrastructure and the spatial distribution of employment opportunities capitalise through property values.
|Date of creation:||Aug 2004|
|Date of revision:|
|Contact details of provider:|| Postal: Welthandelsplatz 1, 1020 Vienna, Austria|
Web page: http://www.ersa.org
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- repec:arz:wpaper:eres1997-134 is not listed on IDEAS
- T J Fik & G F Mulligan, 1998.
"Functional form and spatial interaction models,"
Environment and Planning A,
Pion Ltd, London, vol. 30(8), pages 1497-1507, August.
- M.J. Ball & R.M. Kirwan, 1977. "Accessibility and Supply Constraints in the Urban Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 14(1), pages 11-32, February.
- Quigley, John M., 1982. "Nonlinear budget constraints and consumer demand: An application to public programs for residential housing," Journal of Urban Economics, Elsevier, vol. 12(2), pages 177-201, September.
- Paul Cheshire & Stephen Sheppard, 1997. "Welfare Economics of Land Use Regulation," Urban/Regional 9702001, EconWPA.
- Daniel C. Knudsen & A. Stewart Fotheringham, 1986. "Matrix Comparison, Goodness-of-Fit, and Spatial Interaction Modeling," International Regional Science Review, , vol. 10(2), pages 127-147, August.
- Mingche M. Li & H. James Brown, 1980. "Micro-Neighborhood Externalities and Hedonic Housing Prices," Land Economics, University of Wisconsin Press, vol. 56(2), pages 125-141.
- 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..
- Stephen Sheppard, 1997. "The Welfare Economics of Land Use Regulation," ERES eres1997_134, European Real Estate Society (ERES).
- Schnare, Ann B. & Struyk, Raymond J., 1976. "Segmentation in urban housing markets," Journal of Urban Economics, Elsevier, vol. 3(2), pages 146-166, April.
- Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
- White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January.
- E Heikkila & P Gordon & J I Kim & R B Peiser & H W Richardson & D Dale-Johnson, 1989. "What Happened to the CBD-Distance Gradient?: Land Values in a Policentric City," Environment and Planning A, , vol. 21(2), pages 221-232, February.
When requesting a correction, please mention this item's handle: RePEc:wiw:wiwrsa:ersa04p355. 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: (Gunther Maier)
If references are entirely missing, you can add them using this form.