More Reliable Land Price Index: Is There a Slope Effect?

Yi Huang and Geoffrey Hewings
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Yi Huang: Institute of Urban Development, Nanjing Audit University, Nanjing 211815, China

Land, 2021, vol. 10, issue 3, 1-24

Abstract: This paper focuses on the physical attributes of land that intrinsically limit land use and possibly affect land values. In particular, we investigate if the slope of a land does decrease its price and investigate the role of land slope in forming more reliable constant-quality land price indices and aggregate house price indices. We find that, while land slopes do decrease the land price per unit, they have a small effect on the quality-adjusted land price indices in selected neighborhoods in Auckland, New Zealand, where sloped terrain is common.

Keywords: land price index; land slope; slope discount; decomposition; builder’s model (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jlands:v:10:y:2021:i:3:p:261-:d:510729

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