Work

Urban Growth Boundaries and their Impact on Land Prices

Year: 2014

Type: article

Abstract: Undeveloped land transactions at the urban fringe of the Melbourne metropolitan area in Australia are recorded in a dataset that enables exploration of the impact of its urban growth boundary (UGB) on residential land prices. Estimation can take account of a wide range of factors, while controlling for policy anticipation effects and other potential influences on land prices. Modelling estimates indicate that land prices rose substantially inside the UGB after its enactment in 2003, but did not rise much outside of it. These results suggest that the urban growth boundary has had a significant upward effect on the trajectory of the urban region's house prices.

Source: Environment and Planning A Economy and Space

DOI: 10.1068/a130110p

Authors: Michael Ball, Melek Cigdem, Elizabeth Taylor, Gavin Wood

Institutions: University of Reading, Australian Housing and Urban Research Institute, RMIT University, The University of Melbourne

Language: English

Topic: Housing Market and Economics

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Sustainable cities and communities

Open Access status: green

Funder: University of Ghana Business School