Modelling House Prices Across Sydney
17 Pages Posted: 3 Sep 2013
Date Written: September 2013
This article models median house prices in 626 suburbs across Sydney, using three spatial hedonic models, and obtains high overall levels of explanation. Access to the central business district and the coast, as well as house and lot sizes, are predictably positive factors. Violent crime significantly depresses house values. Access to rail and high‐frequency bus services is weakly significant only when access is generally poor. However, neither access to a sub‐centre nor housing density was found to have a separate impact on house prices. Research using unit record data could refine the findings of this suburb‐level analysis.
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