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Valuing school quality, better transport, and lower crime: evidence from house prices

Gibbons, Stephen and Machin, Stephen (2008) Valuing school quality, better transport, and lower crime: evidence from house prices. Oxford Review of Economic Policy, 24 (1). pp. 99-119. ISSN 1460-2121

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Abstract

Housing prices within urban areas exhibit highly localized variation that cannot be explained solely by differences in the physical attributes of dwellings. We consider the role of local amenities and disamenities in generating price variation within urban areas, focusing on three highly policy-relevant urban issues–transport accessibility, school quality, and crime. Our survey of the recent empirical literature highlights what is known and what is not known on these issues, and considers the relevance and reliability of this evidence for policy design and evaluation. Although there are serious empirical challenges, we argue that research on housing values based on careful research designs can offer credible estimates of the social value of place-specific attributes and amenities.

Item Type: Article
Official URL: http://oxrep.oxfordjournals.org
Additional Information: © 2008 Oxford University Press
Library of Congress subject classification: H Social Sciences > HN Social history and conditions. Social problems. Social reform
H Social Sciences > HE Transportation and Communications
L Education > L Education (General)
Journal of Economic Literature Classification System: R - Urban, Rural, and Regional Economics > R2 - Household Analysis > R21 - Housing Demand
H - Public Economics > H4 - Publicly Provided Goods
Sets: Research centres and groups > Centre for the Economics of Education (CEE)
Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Geography and Environment
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 06 Aug 2008 11:45
URL: http://eprints.lse.ac.uk/20471/

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