HIGHWAY NOISE AND PROPERTY VALUES. A SURVEY OF RECENT EVIDENCE

The paper critically reviews nine empirical studies of highway noise and property values. These studies, conducted since 1974, use cross-sectional housing data concerning cities in Canada and the USA. A number of assumptions that underlie the price model are discussed, and also highway noise measurement fundamentals are reviewed. The results of the surveys are summarised in the form of a noise depreciation sensitivity index which is the ratio of the price of quiet to the price of an average property. The range of values for this index provides a means of evaluating the consistency of the studies and of their results. Empirical studies received employ a variey of traffic noise measures and model specifications. The evidence reviewed suggests that highway noise does not lead to delays in selling property and should not therefore reduce residential mobility. (Author/TRRL)

[1]  Theodore J. Schultz,et al.  Community noise ratings , 1972 .

[2]  Fred L. Hall,et al.  EFFECTS OF HIGHWAY NOISE ON RESIDENTIAL PROPERTY VALUES , 1978 .

[3]  J. Langley.  ADVERSE IMPACTS OF THE WASHINGTON BELTWAY ON RESIDENTIAL PROPERTY VALUES , 1976 .

[4]  D. Rubinfeld,et al.  Hedonic housing prices and the demand for clean air , 1978 .

[5]  Jon P. Nelson,et al.  Economic Analysis of Transportation Noise Abatement , 1978 .

[6]  Jr J L Goodman,et al.  Housing Consumption Disequilibrium and Local Residential Mobility , 1976 .

[7]  K. Mäler.  A note on the use of property values in estimating marginal willingness to pay for environmental quality , 1977 .

[8]  Richard V. Butler,et al.  CROSS-SECTIONAL VARIATION IN THE HEDONIC RELATIONSHIP FOR URBAN HOUSING MARKETS* , 1980 .

[9]  Raymond B. Palmquist.  Measuring environmental effects on property values without hedonic regressions , 1982 .

[10]  J E Wesler.  Community noise survey of Medford, Massachusetts. , 1973, The Journal of the Acoustical Society of America.

[11]  A. Myrick Freeman,et al.  The benefits of environmental improvement , 1979 .

[12]  E. Mishan,et al.  WHAT IS WRONG WITH ROSKILL , 1970 .

[13]  Duncan Maclennan,et al.  Some Thoughts on the Nature and Purpose of House Price Studies , 1977 .

[14]  John M. Quigley,et al.  Intra- Urban Residential Mobility: A Review and Synthesis , 1977 .

[15]  A. M. FreemanIII,et al.  Hedonic Prices, Property Values and Measuring Environmental Benefits: A Survey of the Issues , 1979 .

[16]  Jon P. Nelson,et al.  Residential choice, hedonic prices, and the demand for urban air quality , 1978 .

[17]  Richard F. Muth,et al.  A Regression Method for Real Estate Price Index Construction , 1963 .

[18]  A. Walters,et al.  Noise and Prices , 1975 .

[19]  F. J. Langdon.  Noise nuisance caused by road traffic in residential areas: Part III , 1976 .