Authors
Stephen Gibbons, Susana Mourato, Guilherme M Resende
Publication date
2014/2
Journal
Environmental and Resource Economics
Volume
57
Pages
175-196
Publisher
Springer Netherlands
Description
Using a hedonic property price approach, we estimate the amenity value associated with proximity to habitats, designated areas, domestic gardens and other natural amenities in England. There is a long tradition of studies looking at the effect of environmental amenities and disamenities on property prices. But, to our knowledge, this is the first nationwide study of the value of proximity to a large number of natural amenities in England. We analysed 1 million housing transactions over 1996–2008 and considered a large number of environmental characteristics. Results reveal that the effects of many of these environmental variables are highly statistically significant, and are quite large in economic magnitude. Gardens, green space and areas of water within the census ward all attract a considerable positive price premium. There is also a strong positive effect from freshwater and flood plain locations …
Total citations
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Scholar articles
S Gibbons, S Mourato, GM Resende - Environmental and Resource Economics, 2014