The Amenity Value of English Nature: A Hedonic Price Approach

摘要: Using a hedonic property price approach, we estimate the amenity value associated with proximity to habitats, designated areas, domestic gardens and other natural amenities in England. There is long tradition of studies looking at effect environmental disamenities on prices. But, our knowledge, this first nationwide study large number We analysed 1 million housing transactions over 1996–2008 considered characteristics. Results reveal that effects many these variables are highly statistically significant, quite economic magnitude. Gardens, green space areas water within census ward all attract considerable positive premium. also strong from freshwater flood plain locations, broadleaved woodland, coniferous woodland enclosed farmland. Increasing distance such as rivers, National Parks Trust sites unambiguously fall house Our preferred regression specifications control for unobserved labour market geographical factors using Travel Work Area fixed effects, estimates fairly insensitive changes specification sample. This provides some reassurance results provide useful representation values attached Overall, conclude England reveals substantial designations, private local amenities.