RURAL COMMUNITIES AND THE VALUATION OF RURAL AMENITIES, EVIDENCE FROM HOUSING LITERATURE AND CASE STUDIES

Jessica Lamond, Felix Hammond and David Proverbs

ERES from European Real Estate Society (ERES)

Abstract: Affordability of rural housing has been highlighted as a critical problem by commentators in the UK as part of a wider housing affordability problem which persists despite the recent house price adjustments. The price of rural housing has been implicated in the decline of rural communities as the lack of affordability prevents the setting up of new households by local young people. Both in-migration from urban areas and planning policies in the UK which largely restrict development on Greenfield land may have contributed to the affordability problem. However, most previous studies of rural house price have concentrated on mean prices which have not considered the differences in property mix between rural and urban areas. The different notions of what comprises a rural dwelling have also been little addressed, research into the concept of rurality having been largely divorced from research into the valuation of rural property. A review of literature from the rural research community has been combined with an analysis of housing studies which value amenities identified as constituents of the rural ideal. Further empirical analysis of the distribution of housing within two case study areas in England has shown that different property mix also contributes to the rural affordability issue. This has yielded insights which may inform planning policy and valuation of rural property but will also be valuable for future research into the valuation of rural amenities and the rural location.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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