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The costs of urban property crime

Gibbons, Steve (2003) The costs of urban property crime. CEPDP, 574. Centre for Economic Performance, London School of Economics and Political Science, London, UK. ISBN 0753016338

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Identification Number: 574

Abstract

This paper estimates the impact of recorded domestic property crime on property prices in the London area. Crimes in the Criminal Damage category have a significant negative impact on prices. Burglaries have no measurable impact on prices, even after allowing for the potential dependence of burglary rates on unobserved property characteristics. A one-tenth standard deviation decrease in the local density of criminal damage adds 1 per cent to the price of an average Inner London property. One explanation we offer here is that vandalism, graffiti and other forms of criminal damage motivate fear of crime in the community and may be taken as signals or symptoms of community instability and neighbourhood deterioration in general.

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk
Additional Information: © 2003 Steve Gibbons
Subjects: H Social Sciences > HN Social history and conditions. Social problems. Social reform
Sets: Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Geography and Environment
Date Deposited: 28 Jul 2008 15:01
Last Modified: 01 Oct 2010 09:14
URI: http://eprints.lse.ac.uk/id/eprint/20043

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