Urban growth boundaries and their impact on land prices

Michael Ball; Melek Cigdem; Elizabeth Taylor; Gavin Wood

doi:10.1068/a130110p

Urban growth boundaries and their impact on land prices

Michael Ball, Melek Cigdem, Elizabeth Taylor, Gavin Wood

Research output: Contribution to journal › Article › Research › peer-review

25 Citations (Scopus)

Abstract

Undeveloped land transactions at the urban fringe of the Melbourne metropolitan area in Australia are recorded in a dataset that enables exploration of the impact of its urban growth boundary (UGB) on residential land prices. Estimation can take account of a wide range of factors, while controlling for policy anticipation effects and other potential influences on land prices. Modelling estimates indicate that land prices rose substantially inside the UGB after its enactment in 2003, but did not rise much outside of it. These results suggest that the urban growth boundary has had a significant upward effect on the trajectory of the urban region’s house prices.

Original language	English
Pages (from-to)	3010-3026
Number of pages	17
Journal	Environment and Planning A: Economy and Space
Volume	46
Issue number	12
DOIs	https://doi.org/10.1068/a130110p
Publication status	Published - 2014
Externally published	Yes

Keywords

Land market dynamics
Land prices
Urban growth boundary

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10.1068/a130110p

Cite this

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AB - Undeveloped land transactions at the urban fringe of the Melbourne metropolitan area in Australia are recorded in a dataset that enables exploration of the impact of its urban growth boundary (UGB) on residential land prices. Estimation can take account of a wide range of factors, while controlling for policy anticipation effects and other potential influences on land prices. Modelling estimates indicate that land prices rose substantially inside the UGB after its enactment in 2003, but did not rise much outside of it. These results suggest that the urban growth boundary has had a significant upward effect on the trajectory of the urban region’s house prices.

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Urban growth boundaries and their impact on land prices

Abstract

Keywords

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