The Demand for Local Amenity: An Hedonic Price Analysis

P B McLeod
Additional contact information
P B McLeod: Department of Economics, University of Western Australia, Nedlands, Perth, Western Australia 6009

Environment and Planning A, 1984, vol. 16, issue 3, 389-400

Abstract: In this paper the author investigates the demand for housing characteristics and proximity to local amenities in Perth, Western Australia. By application of hedonic price theory to a sample of house transactions the implicit prices for individual characteristics are estimated and used to estimate inverse demand curves for these characteristics in a second stage analysis. The results confirm the importance of proximity of river, parks, and highways in determining house prices. River views are found to be particularly important being valued at 28% of average selling price. From the inverse demand curves income elasticities of willingness to pay are found to range from 1.0 for age of house to 0.43 for proximity to the river.

Date: 1984
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1068/a160389 (text/html)

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:sae:envira:v:16:y:1984:i:3:p:389-400

DOI: 10.1068/a160389

Access Statistics for this article

More articles in Environment and Planning A
Bibliographic data for series maintained by SAGE Publications ().