Comparing the impact of road noise on property prices in two separated markets

Marieke Franck, Johan Eyckmans, Simon De Jaeger and Sandra Rousseau

Journal of Environmental Economics and Policy, 2015, vol. 4, issue 1, 15-44

Abstract: In this paper, we empirically test the stability of valuation estimates of road traffic noise based on house prices. A hedonic valuation model is constructed and estimated for two separate housing markets in Belgium. We estimate noise depreciation sensitivity index (NDSIs) for different modelling choices for both markets separately, jointly and taking into account spatial dependency. The results confirm that housing markets are region-specific and several housing characteristics are valued differently across regions. The effect of road noise, however, appears to be rather robust. Thus, the use of NDSI estimates from one region to value traffic noise in another region seems to be acceptable.

Date: 2015
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DOI: 10.1080/21606544.2014.951399

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