EconPapers    
Economics at your fingertips  
 

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)
JEL-codes: R31 R32 R42 R58 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0739885915300573
Full text for ScienceDirect subscribers only

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:eee:retrec:v:67:y:2018:i:c:p:3-10

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_2&version=01

Access Statistics for this article

Research in Transportation Economics is currently edited by M. Dresner

More articles in Research in Transportation Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2019-10-14
Handle: RePEc:eee:retrec:v:67:y:2018:i:c:p:3-10