What’s so special about character?

Mario Fernandez and Shane L. Martin
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Shane L. Martin: Auckland Council, New Zealand

Urban Studies, 2020, vol. 57, issue 16, 3236-3251

Abstract: Special Character Areas (SCAs) in Auckland, New Zealand, are areas with distinctive aesthetic, physical and visual qualities. Preservation policies entail controls on the design and appearance of new buildings, and on demolition, additions and alterations to existing buildings. To promote densification of the city, the Auckland Unitary Plan (AUP) removed SCA preservation rules in certain areas. This article assesses the trade-off between SCA preservation and housing development. We employ hedonic prices models to about 85,000 sale transactions between 2012 and 2016 and find that in 2012, the SCA price premium was 11.4% whereas the premium on upzoned properties (those with increased development allowances under the AUP) was zero. Over time, the SCA premium decreases, and by 2016 it was down to about 4.3%. At the same time, upzoning premiums increased to about 5% in 2016. These results reveal a demand shift from the protections of SCA towards flexibility on the development options of land.

Keywords: built environment; economic processes; land use; planning; policy; special character areas; substitutability; 建筑环境; ç» æµŽè¿‡ç¨‹; 土地使用; 规划; 政策; 特色区域; å ¯æ›¿ä»£æ€§ (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:57:y:2020:i:16:p:3236-3251

DOI: 10.1177/0042098019895774

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