Gibbons, Stephen 
ORCID: 0000-0002-2871-8562
(2004)
The costs of urban property crime.
The Economic Journal, 114 (499).
F441-F463.
ISSN 0013-0133
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. A one-tenth standard deviation decrease in the local density of criminal damage adds 1% to the price of an average Inner London property. Burglaries have no measurable impact on prices, even after allowing for the potential dependence of burglary rates on unobserved property characteristics. 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: | Article |
|---|---|
| Official URL: | http://www.blackwellpublishing.com/journals/ecoj/ |
| Additional Information: | © 2004 Blackwell Publishers |
| Divisions: | Centre for Economic Performance Geography & Environment |
| Subjects: | H Social Sciences > HT Communities. Classes. Races H Social Sciences > HM Sociology |
| Date Deposited: | 30 Nov 2007 |
| Last Modified: | 01 Nov 2024 05:15 |
| URI: | http://eprints.lse.ac.uk/id/eprint/2940 |
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