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The costs of urban property crime

Gibbons, Stephen (2004) The costs of urban property crime. Economic Journal, 114 (499). F441-F463. ISSN 0013-0133

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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
Library of Congress subject classification: H Social Sciences > HT Communities. Classes. Races
H Social Sciences > HM Sociology
Sets: 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: 30 Nov 2007
URL: http://eprints.lse.ac.uk/2940/

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