The costs of urban property crime

Gibbons, Stephen ORCID: 0000-0002-2871-8562 (2003) The costs of urban property crime. CEPDP (574). London School of Economics and Political Science. Centre for Economic Performance, London, UK. ISBN 0753016338

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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. 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
Divisions:	Centre for Economic Performance Geography & Environment
Subjects:	H Social Sciences > HN Social history and conditions. Social problems. Social reform
JEL classification:	R - Urban, Rural, and Regional Economics > R2 - Household Analysis > R21 - Housing Demand C - Mathematical and Quantitative Methods > C3 - Econometric Methods: Multiple; Simultaneous Equation Models; Multiple Variables; Endogenous Regressors > C31 - Cross-Sectional Models; Spatial Models; Treatment Effect Models
Date Deposited:	28 Jul 2008 15:01
Last Modified:	01 Nov 2024 04:51
URI:	http://eprints.lse.ac.uk/id/eprint/20043

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