The costs of urban property crime

Stephen Gibbons

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper estimates the impact of recorded domestic property crime on property prices in the London area. Crimes in the Criminal Damage category have a significant negative impact on prices. Burglaries have no measurable impact on prices, even after allowing for the potential dependence of burglary rates on unobserved property characteristics. A one-tenth standard deviation decrease in the local density of criminal damage adds 1 per cent to the price of an average Inner London property. One explanation we offer here is that vandalism, graffiti and other forms of criminal damage motivate fear of crime in the community and may be taken as signals or symptoms of community instability and neighbourhood deterioration in general.

Keywords: property prices; crime; social disorder; spatial econometrics (search for similar items in EconPapers)
JEL-codes: C31 R21 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2003-06
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://eprints.lse.ac.uk/20043/ Open access version. (application/pdf)

Related works:
Journal Article: The Costs of Urban Property Crime (2004)
Working Paper: The Costs of Urban Property Crime (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:20043

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().