Can nearby open spaces substitute for the size of a property owner's private yard?

Katherine Kenyon Henderson and Yan Song

International Journal of Housing Markets and Analysis, 2008, vol. 1, issue 2, 147-165

Abstract: Purpose - This paper aims to assess the marginal value of several types of open space in a single family residential market. It also aims to test the hypothesis that locating closer to open spaces might be a substitute for the size of a homeowner's own yard. Design/methodology/approach - Using data from Wake County, North Carolina in the US hedonic modeling is used to estimate the house price as a function of the quantities of a property's characteristics, including the property's access to different types of open spaces, property structural features, public services, disamenity features, neighborhood socio‐economic characteristics, and accessibility measures. Findings - The findings were that housing prices increase with a property's proximity to certain types of open land uses, and that the size of those nearby open spaces also impacts home price. More importantly, the findings concluded that the value of being adjacent to public open spaces, having more public open spaces within walking distance of the property, and being closer to the nearest open space is greater for properties with smaller private yards. Originality/value - This paper explicitly tests the relationship between yard size and the proximity value of various types of open spaces. The paper also discusses the implications of the research findings for land use planning and smart growth development.

Keywords: Open spaces; Housing; Pricing; United States of America; Value analysis (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:v:1:y:2008:i:2:p:147-165

DOI: 10.1108/17538270810877772

Access Statistics for this article

International Journal of Housing Markets and Analysis is currently edited by Dr Richard Reed

More articles in International Journal of Housing Markets and Analysis from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().