Osland, L. and Pryce, G. (2012) Housing prices and multiple employment nodes: is the relationship nonmonotonic? Housing Studies, 27(8), pp. 1182-1208. (doi: 10.1080/02673037.2012.728571)
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Abstract
Standard urban economic theory predicts that house prices will decline with distance from the central business district. Empirical results have been equivocal, however. Disjoints between theory and empirics may be due to a nonmonotonic relationship between house prices and access to employment arising from the negative externalities associated with proximity to multiple centres of employment. Based on data from Glasgow (Scotland), we use gravity-based measures of accessibility estimated using a flexible functional form that allows for nonmonotonicity. The results are thoroughly tested using recent advances in spatial econometrics. We find compelling evidence of a nonmonotonic effect in the accessibility measure and discuss the implications for planning and housing policy.
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Pryce, Professor Gwilym |
Authors: | Osland, L., and Pryce, G. |
College/School: | College of Social Sciences > School of Social and Political Sciences > Urban Studies |
Journal Name: | Housing Studies |
Publisher: | Taylor and Francis |
ISSN: | 0267-3037 |
ISSN (Online): | 1466-1810 |
Published Online: | 06 November 2012 |
Copyright Holders: | Copyright © 2012 Taylor and Francis |
First Published: | First published in Housing Studies 27(8):1182-1208 |
Publisher Policy: | Reproduced in accordance with the copyright policy of the publisher |
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