Rail Location Neighbourhoods: Proximity Premiums and Residential Sorting in the Sydney Metropolitan Area

33 Pages Posted: 20 Jan 2021 Last revised: 21 Jan 2021

See all articles by Laurence Carleton

Laurence Carleton

Macquarie University, Macquarie Business School

Roselyne Joyeux

Macquarie University - Department of Economics; Financial Research Network (FIRN); Macquarie University, Macquarie Business School

George Milunovich

Macquarie University - Department of Actuarial Studies and Business Analytics; Macquarie University, Macquarie Business School

Date Written: January 15, 2021

Abstract

We examine the relationship between rail accessibility and the pattern of demographic characteristics at long-established Rail Transit Served Communities (RTSCs). The analytical methods involve the juxtaposition of property premium estimates and assessment of spatial effects on demographic composition. Despite finding considerable property premiums associated with access to rail transit across metropolitan Sydney (NSW, Australia), we report little evidence of prevailing gentrification or displacement. The demographic groups commonly linked to gentrification, including high-income and professionals, are not found to dominate areas of high rail accessibility to nearby established rail stations. Only those with advanced educational qualifications are shown to increase in concentration with closer access to rail transit.

Keywords: Residential Sorting, Sydney, Public Transit, Transport, House Prices

Suggested Citation

Carleton, Laurence and Joyeux, Roselyne and Milunovich, George, Rail Location Neighbourhoods: Proximity Premiums and Residential Sorting in the Sydney Metropolitan Area (January 15, 2021). Available at SSRN: https://ssrn.com/abstract=3768245 or http://dx.doi.org/10.2139/ssrn.3768245

Laurence Carleton (Contact Author)

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

Roselyne Joyeux

Macquarie University - Department of Economics ( email )

Sydney NSW 2109
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

George Milunovich

Macquarie University - Department of Actuarial Studies and Business Analytics ( email )

Australia

Macquarie University, Macquarie Business School ( email )

New South Wales 2109
Australia

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
17
Abstract Views
283
PlumX Metrics