When and how much does new transport infrastructure add to property values? Evidence from the bus rapid transit system in Sydney, Australia

摘要: Abstract This paper examines the timing of impact a Bus Rapid Transit (BRT) system on residential housing prices in Sydney, Australia. A multilevel model is employed to identify price uplift after opening BRT system. Catchment and control areas are selected from property sales data for potential external shocks house prices. The modelling takes account property, neighbourhood accessibility attributes which expected affect transaction quantify land value point time when it occurs. research found that properties within 400 m stops marginally higher than those outside service area 2003 2004. outcomes provide evidence government sectors planning future systems quantifying raise financial funding public transport improvement through gain uplift.