The influence of urban design packages on home values

The influence of urban design packages on home values PurposeThe purpose of this study is to examine the impact of neighborhood design templates on residential home values in King County, WA, USA. Previous research examines a number of individual design factors; this study combines these factors into typologies and tests for the impacts of the composite set of design features.Design/methodology/approachThe study analyzes over 27,000 home sales with a hedonic price model to measure the impacts across three large, regional submarkets. Neighborhood design categories are developed using a cluster analysis on a set of individual neighborhood attributes.FindingsThe key finding from this research is that the impact of more traditional (“urban”) design packages on home values is highly contextual. For the older and denser neighborhoods in the study area, a more traditional design results in a significantly positive impact on home values. In the new and more suburban regions of the study area, this effect is not found.Originality/valuePrior work focused on valuing design attributes individually. The study argues that neighborhood design is better conceived of as a “package”, as the value of a given design element may depend on other co-located attributes. This is the first study, to the authors’ knowledge, to treat physical neighborhood design variables as a composite whole and to attempt to value their impact on home values as such. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Housing Markets and Analysis Emerald Publishing

The influence of urban design packages on home values

Loading next page...
 
/lp/emerald-publishing/the-influence-of-urban-design-packages-on-home-values-GeqWGgWylr
Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1753-8270
DOI
10.1108/IJHMA-08-2015-0049
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this study is to examine the impact of neighborhood design templates on residential home values in King County, WA, USA. Previous research examines a number of individual design factors; this study combines these factors into typologies and tests for the impacts of the composite set of design features.Design/methodology/approachThe study analyzes over 27,000 home sales with a hedonic price model to measure the impacts across three large, regional submarkets. Neighborhood design categories are developed using a cluster analysis on a set of individual neighborhood attributes.FindingsThe key finding from this research is that the impact of more traditional (“urban”) design packages on home values is highly contextual. For the older and denser neighborhoods in the study area, a more traditional design results in a significantly positive impact on home values. In the new and more suburban regions of the study area, this effect is not found.Originality/valuePrior work focused on valuing design attributes individually. The study argues that neighborhood design is better conceived of as a “package”, as the value of a given design element may depend on other co-located attributes. This is the first study, to the authors’ knowledge, to treat physical neighborhood design variables as a composite whole and to attempt to value their impact on home values as such.

Journal

International Journal of Housing Markets and AnalysisEmerald Publishing

Published: Apr 3, 2017

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off