Sorting out access and neighbourhood factors in hedonic price modelling

Journal of Property Investment & Finance

Volumn 18, Issue 3, 2000, Pages 291-315

  Des Rosiers, François ^a   Thériault, Marius ^a   Villeneuve, Paul Y ^a  

^a UNIVERSITÉ LAVAL   (Canada)

Author keywords

Geographical information systems; Location; Modelling; Property markets

Indexed keywords

EID: 84986116766     PISSN: 1463578X     EISSN: None     Source Type: Journal    
DOI: 10.1108/14635780010338245     Document Type: Article

References (63)

1. Adair. A.S., Berry, J.N. and McGreal, S.W. (1996), “Hedonic modelling, housing sub-markets and residential valuation”, Journal of Property Research, Vol. 13 No. 1, pp. 67-83.
2. Adair. A.S., Berry, J.N. and McGreal, S.W. (1998), “Assessing influences upon the housing market in Northern Ireland”, Journal of Property Research, Vol. 15 No. 2, pp. 121-34.
3. Anselin, L. and Can, A. (1986), “Model comparison and model validation issues in empirical work on urban density functions”, Geographical Analysis, Vol. 18, pp. 179-97.
4. Anselin, L. and Getis, A. (1992), “Spatial statistical analysis and geographic information systems”, The Annals of Regional Science, Vol. 26, pp. 19-33.
5. Anselin, L. and Rey, S. (1991), “Properties of tests for spatial dependence in linear regression models”, Geographical Analysis, Vol. 23 No. 2, pp. 112-31.
6. Basu, S. and Thibodeau, T.G. (1998), “Analysis of spatial autocorrelation in house prices”, The Journal of Real Estate Finance and Economics, Vol. 17 No. 1, pp. 61-86.
7. Can, A. (1990), “The measurement of neighbourhood dynamics in urban house prices”, Economic Geography, Vol. 66, pp. 254-72.
8. Can, A. (1992), “Residential quality assessment: alternative approaches using GIS”, The Annals of Regional Science, Vol. 26, pp. 97-110.
9. Can, A. (1993), “Specification and estimation of hedonic housing price models”, Regional Science and Urban Economics, Vol. 22, pp. 453-74.
10. Can, A. and Megbolugbe, I. (1997), “Spatial dependence and house price index construction”, Journal of Real Estate Finance and Economics, Vol. 14, pp. 203-22.
11. Colwell, P.F., Gujral, S.S. and Coley, C. (1985), “The impact of shopping center on the value of surrounding properties”, Real Estate Issues, Vol. 10 No. 1, pp. 35-39.
12. Colwell, P.F. (1990), “Power lines and land values”, Journal of Real Estate Research, Vol. 5 No. 1, pp. 117-27.
13. Colwell, P.F. (1998), “A primer on piecewise parabolic multiple regression analysis via estimations of Chicago CBD land prices”, The Journal of Real Estate Finance and Economics, Vol. 17 No. 1, pp. 87-98.
14. Cressie, N.A.C. (1993), Statistics for Spatial Data, Wiley, New York, NY, 900 pages.
15. Des Rosiers, F. and Thériault, M. (1992), “Integrating geographic information systems to hedonic price modelling: an application to the Quebec region”, Property Tax Journal, Vol. 11 No. 1, pp. 29-57.
16. Des Rosiers, F. and Thériault, M. (1999), House Prices and Spatial Dependence: Towards an Integrated Procedure to Model Neighbourhood Dynamics, Laval University, Faculty of Business Admin., Québec, Publ. 1999-002, 23 pages.
17. Des Rosiers, F., Lagana, A., Thériault, M. and Beaudoin, M. (1996), “Shopping centers and house values: an empirical investigation”, Journal of Property Valuation and Investment, Vol. 14 No. 4, pp. 41-63
18. Dubin, R.A. (1988), “Estimation of regression coefficients in the presence of spatially autocorrelated error terms”, Review of Economics and Statistics, Vol. 70, pp. 466-74.
19. Dubin, R.A. (1992), “Spatial autocorrelation and neighbourhood quality”, Regional Science and Urban Economics, Vol. 22, pp. 433-52.
20. Dubin, R.A. (1998), “Predicting house prices using multiple listings data”, The Journal of Real Estate Finance and Economics, Vol. 17 No. 1, pp. 35-60.
21. Dubin, R.A. and Sung, C.H. (1987), “Spatial variation in the price of housing: rent gradients in non-monocentric cities”, Urban Studies,Vol. 24, pp. 193-204.
22. Getis, A. and Ord, J.K. (1992), “The analysis of spatial association by use of distance statistics”, Geographical Analysis, Vol. 24 No. 3, pp. 189-206.
23. Golledge, R.G., Kwan, M.P. and Gärling, T. (1994), “Computational process modelling of household travel decision using a geographical information system”, Papers in Regional Science, Vol. 73 No. 2, pp. 99-117.
24. Goodchild, M.F. (1998), “GIS and disaggregate transportation modelling”, Geographical Systems, Vol. 5 No. 1, pp. 19-44.
25. Goodman, A.C. and Thibodeau, T.G. (1995), “Age-related heteroskedasticity in hedonic house price equations”, Journal of Housing Research, Vol. 6, pp. 25-42.
26. Grieson, R.E. and White, J.R. (1989), “The existence and capitalization of neighbourhood externalities: a reassessment”, Journal of Urban Economics, Vol. 25 No. 1, pp. 68-76.
27. Griffith, D.A. (1993), “Advanced spatial statistics for analyzing and visualizing geo-references data”, International Journal of Geographical Information Systems, Vol. 7 No. 2, pp. 107-24.
28. Guntermann, K.L. and Colwell, P.F. (1983), “Property values and accessibility to primary schools”, Real Estate Appraiser and Analyst, Vol. 49 No. 1, pp. 62-8.
29. Hägerstrand, T. (1970), “What about people in regional science?” Papers of the Regional Science Association, Vol. 14, pp. 7-16.
30. Hickman, E.P., Gaines, J.P. and Ingram, F.J. (1984), “The influence of neighbourhood quality on residential values”, The Real Estate Appraiser and Analyst, Vol. 50 No. 2, pp. 36-42.
31. Hoch, I. and Waddell, P. (1993), “Apartment rents: another challenge to the monocentric model’, Geographical Analysis, Vol. 25 No. 1, pp. 20-34.
32. Hotelling, H. (1933), “Analysis of a complex of statistical variables into principal components”, Journal of Educational Psychology, Vol. 24, pp. 417-41; 498-520.
33. Jackson, J.R. (1979), “Intraurban variation in the price of housing”, Journal of Urban Economics, Vol. 6, pp. 464-79.
34. King, L.J. (1969), Statistical Analysis in Geography, Prentice-Hall, Englewood Cliffs, NJ.
35. Korem, 1998. MapLogix Version 2.0. Topological Map Editing Utility for MapInfo Professional. HTTP://www.korem.com/maplogix/index.html
36. Krantz, D.P., Waever, R.D. and Alter, T.R. (1982), “Residential tax capitalization: consistent estimates using micro-level data”, Land Economics, Vol. 58 No. 4, pp. 488-96.
37. Landau, U., Prashker, J.N. and Hirsh, M. (1981), “The effect of temporal constraints in household travel behaviour”, Environment and Planning A, Vol. 13, pp. 435-44.
38. Levine, N. (1996), “Spatial statistics and GIS. Software tools to quantify spatial patterns”, Journal of the American Planning Association, Vol. 62 No. 3, pp. 381-90.
39. McGreal, S., Adair, A., Norton, B., Smyth, A., Riley T. and Cooper, J. (1999), House Price and Accessibility in the Belfast Urban Area, Paper presented at 6th European Real Estate Society Conference, Athens, June 22-25, 16 pages.
40. Miller, H.J. (1991), “Modelling accessibility using space-time prism concepts within geographical information systems”, International Journal of Geographical Information Systems, Vol. 5 No. 3, pp. 287-301.
41. Moran, P.A.P. (1950), “Notes on continuous stochastic phenomena”, Biometrika, Vol. 37, pp. 17-23.
42. Niedercorn, J.H. and Ammari, N.S. (1987), “New evidence on the specification and performance of neoclassical gravity models in the study of urban transportation”, The Annals of Regional Sciences, Vol. 21 No. 1, pp. 56-64.
43. Nijkamp, P., Van Wissen, L. and Rima, A.M. (1993), “A household life cycle model for residential relocation behaviour”, Socio-Economic Planning Science, Vol. 27 No. 1, pp. 35-53.
44. Odland, J. (1988), Spatial Autocorrelation, Scientific Geography, Vol. 9, Sage, Newbury Park, CA, 85 pages.
45. Ord, J.K. and Getis, A. (1995), “Spatial autocorrelation statistics: distribution issues and an application”, Geographical Analysis, Vol. 27 No. 4, pp. 286-306.
46. Pace, R. K., Barry R. and Sirmans, C.F. (1998), “Spatial statistics and real estate”, The Journal of Real Estate Finance and Economics, Vol. 17 No. 1, pp. 5-14.
47. Panatier, Y. (1996), “Variowin: software for spatial data analysis in 2D”, Statistics and Computing, Springer-Verlag, New York, NY, 91 pages.
48. Rodriguez, M., Sirmans, C.F. and Marks, A.P. (1995), “Using geographic information systems to improve real estate analysis”, The Journal of Real Estate, Vol. 10 No. 2, pp. 163-73.
49. Rummel, R.J. (1970), Applied Factor Analysis, Northwestern University Press, Evanston, IL.
50. Shefer, D. (1986), “Utility changes in housing and neighbourhood services for households moving into and out of distressed neighbourhoods”, Journal of Urban Economics, Vol. 19, pp. 107-24.
51. Sirpal, R. (1994), “Empirical modelling of the relative impacts of various sizes of shopping centers on the values of surrounding residential properties”, Journal of Real Estate Research, Vol. 9 No. 4, pp. 487-505.
52. Strange, W. (1992), “Overlapping neighbourhoods and housing externalities”, Journal of Urban Economics, Vol. 32, pp. 17-39.
53. Tabachnick, B.G. and Fidell, L.S. (1996), “Using multivariate statistics”, HarperCollins College Publishers, New York, NY, p. 636.
54. Thériault, M. and Des Rosiers, F. (1995), “Combining hedonic modelling, GIS and spatial statistics to analyze residential markets in the Quebec Urban Community”, in Proceedings of the Joints European Conference on Geographical Information, EGIS Foundation, 26-31 March, The Hague, The Netherlands, Vol. 2, pp. 131-36.
55. Thérault, M., Des Rosiers, F. and Vandermissen, H. (1999), “GIS-based simulation of accessibility to enhance hedonic modelling and property value appraisal”, Joint IAAO-URISA 1999 Conference, 11-14 April, New Orleans, LA, 10 pages.
56. Thériault, M., Leroux, D. and Vandersmissen, M.H. (1998), “Modelling travel route and time within GIS: Its use for planning”, in Bargiela A. and Kerckhoffs E. (Eds), Simulation Technology: Science and Art. Proceedings of the 10th European Simulation Symposium, The Nottingham-Trent University and Society for Computer Simulation International, 26-28 October, pp. 402-7.
57. Thrall, G.I. (1993), “Using GIS to rate the quality of property tax appraisal”, Geo Info Systems, Vol. 3 No. 3, pp. 56-62.
58. Thrall, G.I.and Marks, A.P. (1993), “Functional requirements of a geographic information system for performing real estate research and analysis”, Journal of Real Estate Literature, Vol. 1 No. 1, pp. 49-61.
59. Thurstone, L.L. (1947), Multiple Factor Analysis, University of Chicago Press, Chicago, IL.
60. Tiefelsdorf, M. and Boots, B. (1997), “A note on the extremities of local Moran’s Its and their impact on global Moran’s I”, Geographical Analysis, Vol. 29 No. 3, pp. 248-57.
61. Timmermans, H. and Golledge, R.G. (1990), “Applications of behavioural research on spatial problems: preferences and choice”, Progress in Human Geography, Vol. 14, pp. 311-54.
62. Yinger, J.H., Bloom, H.S., Borsch-Supan, A. and Ladd, H.F. (1987), “Property taxes and house values”, The Theory and Estimation of Intrajurisdictional Property Tax Capitalization, Studies in Urban Economics, Academic Press, Princeton University, NJ, 218 pages.
63. Zhang, Z. and Griffith, D. (1993), “Developing user-friendly spatial statistical analysis modules for GIS: an example using ArcView”, Computer, Environment and Urban Systems, Vol. 21 No. 1, pp. 5-29.