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Urban Growth Boundaries and their impact on land prices

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Ball, M., Cigdem, M., Taylor, E. and Wood, G., (2012) Urban Growth Boundaries and their impact on land prices. Working Papers in Real Estate & Planning. 08/12. Working Paper. University of Reading, Reading. pp31.

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Abstract/Summary

Investigation of the effects of Urban Growth Boundaries (UGB) on land prices are restricted by a lack of good land market data. However, undeveloped land transactions at the urban fringe of the Melbourne metropolitan area in Australia are recorded in a data set that enables exploration of the impact of its UGB. Estimation can take account of endogeneity issues, while controlling for policy anticipation effects and other potential influences on land prices. OLS and instrumental variable estimates indicate that land prices rose substantially inside the UGB after its enactment in 2003 but did not rise much outside of it.

Item Type:Report (Working Paper)
Divisions:Henley Business School > Real Estate and Planning
ID Code:30142
Uncontrolled Keywords:Urban growth boundary, Land prices, Land market dynamics
Publisher:University of Reading
Publisher Statement:The copyright of each working paper remains with the author. If you wish to quote from or cite any paper please contact the appropriate author; in some cases a more recent version of the paper may have been published elsewhere.

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