GIS Measures of Residential Property Views

Robert Wallner

Journal of Real Estate Literature, 2012, vol. 20, issue 2, 224-225

Abstract: This paper develops four novel measures of a residential property's view using purely topographical data, evaluates each measure's contribution to property prices, and compares the efficacy of these new variables with manually-generated measures of view used in the literature. Using a set of semi-logarithmic and spatial autoregressive hedonic regression models for Sydney, Australia, this paper finds that water views contribute 2.30%-216.2% to property prices and land views contribute -5.94%-69.7%. These new measures confer an improvement in out-of-sample prediction accuracy of up to 6.2%.

Date: 2012
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DOI: 10.1080/10835547.2014.12090338

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