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Shopping centres and house values: an empirical investigation

Shopping centres and house values: an empirical investigation Focuses on the effect of both proximity and size of shopping centres on surrounding residential property values, using hedonic modelling. States that the data bank consists of a subset of some 4,000 single‐detached, owner‐occupied housing units transacted all over the Quebec Urban Community territory between January 1990 and December 1991. Tests several functional forms and uses up to 60 descriptors. Reveals that in line with previous studies, findings indicate that shopping‐centre size exerts a positive contributory effect on values; they also tend to confirm the non‐monotonicity of the price‐distance function. Concludes that, in that respect, resorting to the gamma function for distance variables yields most interesting results and provides consistent estimates of optimal distances for various shopping‐centre size categories. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Valuation and Investment Emerald Publishing

Shopping centres and house values: an empirical investigation

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References (50)

Publisher
Emerald Publishing
Copyright
Copyright © 1996 MCB UP Ltd. All rights reserved.
ISSN
0960-2712
DOI
10.1108/14635789610153461
Publisher site
See Article on Publisher Site

Abstract

Focuses on the effect of both proximity and size of shopping centres on surrounding residential property values, using hedonic modelling. States that the data bank consists of a subset of some 4,000 single‐detached, owner‐occupied housing units transacted all over the Quebec Urban Community territory between January 1990 and December 1991. Tests several functional forms and uses up to 60 descriptors. Reveals that in line with previous studies, findings indicate that shopping‐centre size exerts a positive contributory effect on values; they also tend to confirm the non‐monotonicity of the price‐distance function. Concludes that, in that respect, resorting to the gamma function for distance variables yields most interesting results and provides consistent estimates of optimal distances for various shopping‐centre size categories.

Journal

Journal of Property Valuation and InvestmentEmerald Publishing

Published: Oct 1, 1996

Keywords: Appraisals; Housing; Location; Rent; Shopping centres; Values

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