Districts or sub-areas in some metropolitan area may exhibit different urban forms (e.g. monocentric-polycentric) or different urban structures due to natural reasons. The same scenario might also apply to the so-called polycentric urban region. Will intrametropolitan urban form be capitalized into housing price?
The only one way to recognize this issue is make a research :-) In general that is, but this should be differ in different cities. This issue is one easiest to recognize by spatial models. You can make a regression model, spatial regression or simple two-sample t-tests.
Maybe you can find something interesting here:
https://www.researchgate.net/publication/320301768_Spatial_Autocorrelation_in_the_Analysis_of_the_Land_Property_Market_on_the_Example_of_Szczecin_and_Bydgoszcz
From a general point of view, in terms of urban-spatial planning, differences in urban form, within intrametropolitan areas, are a result of complex processes of growth, urban expansion, planning and decision making. The urban growth history of today's metropolitan cities is marked by specific moments and decisions in time, where we can find reasons for such differences (in urban form and many other critical aspects such as exclusion).
This certainly is a relevant issue to explore. But capitalization of differences in urban form, within intrametropolitan areas, to result in different housing prices is a reality we live, surely a direct consequence of the origins of such differences.
Two papers that are tangently related to your effort in that each looks for intrametropolitan differences between neighborhoods...................
Blair, John P. and James E. Larsen. Satisfaction with Neighbors and Neighborhood Housing Prices, Journal of Place Management and Development, 2010, 3:3, 194-204. DOI: 10.1108/175383310
11083934
Larsen, James E. and John P. Blair. Public Services Satisfaction and Single-Family House Prices in the USA, International Journal of Housing Markets and Analysis, 2010, 3:4, 278-289. DOI: 10.1108/17538271011080619
Yes, accessibility is always capitalized into house prices in an urban area. It is simply an empirical question of how you go about specifying the functional form of accessibility in a polycentric urban area (Twin Cities). But, you will still have to deal with other spatial correlations that you might be able to manage in the error term of your regression.
- Badges
- Science topic
- Similar topics
- Mathematics