Impacts of airport traffic volumes on house prices of New Zealandâ€™s major regions: A panel data approach
Wai Hong Kan Tsui,
David Tat Wei Tan and
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Wai Hong Kan Tsui: Massey University, New Zealand; The Chinese University of Hong Kong, Hong Kong
David Tat Wei Tan: University of New South Wales, Australia
Song Shi: Massey University, New Zealand
Urban Studies, 2017, vol. 54, issue 12, 2800-2817
The direction and mechanisms of the relationship between airport traffic volumes and property prices are somewhat unclear in the literature. This study adds to that body of knowledge by empirically investigating the role of airports as an essential driver of economic activity by creating employment and facilitating air travel between destinations. The two-stage least-squares (2SLS) approach is employed to investigate the link between house prices and the airport traffic volumes of New Zealandâ€™s three key regions and airports (Auckland, Canterbury/Christchurch and Wellington) from July 2004 to December 2014. The empirical findings of the study suggest that airport traffic volumes positively and significantly influence the urban house prices of New Zealandâ€™s three major regions.
Keywords: airport traffic volumes; New Zealand; regional housing prices; two-stage least-squares approach; æœºåœºäº¤é€šæµ é‡ ã€; æ–°è¥¿å…°ã€; åœ°åŒºæˆ¿å±‹ä»·æ ¼ã€; å Œé˜¶æ®µæœ€å° å¹³æ–¹æ³• (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:54:y:2017:i:12:p:2800-2817
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