 Does residential property price benefit from light rail in Sydney?Corinne Mulley (), Tsai, Chi-Hong (Patrick) and Liang Ma Research in Transportation Economics, 2018, vol. 67, issue C, 3-10 Abstract: Land rent theory identifies that unimproved land value is determined by its accessibility to goods and services. In theory, therefore, public transport provision which increases accessibility should in turn increase land values. The objective of this paper is to identify if land values in the neighbourhood of a light rail have sustained long run price increases due to the presence of the light rail. The motivation for the paper is whether public transport infrastructure creates sufficient uplift to land values that if it were captured it would make a significant contribution to the investment plans of government. This is especially important in contemporary Sydney as plans are being rolled out to implement new light rail systems by the NSW Government which, in common with many other governments, is subject to budgetary constraints which limits the implementation of all the transport infrastructure evaluated as good value for money. Keywords: Land value uplift; Land value capture; Light rail; Land rent; House price change; Public transport funding (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:retrec:v:67:y:2018:i:c:p:3-10 Ordering information: This journal article can be ordered from DOI: 10.1016/j.retrec.2016.11.002 Access Statistics for this article Research in Transportation Economics is currently edited by M. Dresner More articles in Research in Transportation Economics from Elsevier |
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