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Location, location, location? Analysing property rents in medieval Gloucester

Casson, C. and Casson, M. (2016) Location, location, location? Analysing property rents in medieval Gloucester. The Economic History Review, 69 (2). pp. 575-599. ISSN 1468-0289

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To link to this item DOI: 10.1111/ehr.12117

Abstract/Summary

Although medieval rentals have been extensively studied, few scholars have used them to analyse variations in the rents paid on individual properties within a town. It has been claimed that medieval rents did not reflect economic values or market forces, but were set according to social and political rather than economic criteria, and remained ossified at customary levels. This paper uses hedonic regression methods to test whether property rents in medieval Gloucester were influenced by classic economic factors such as the location and use of a property. It investigates both rents and local rates (landgavel), and explores the relationship between the two. It also examines spatial autocorrelation. It finds significant relationships between urban rents and property characteristics that are similar to those found in modern studies. The findings are consistent with the view that, in Gloucester at least, medieval rents were strongly influenced by classical economic factors working through a competitive urban property market.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:49601
Publisher:Wiley-Blackwell

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