Who responds more to environmental amenities and dis-amenities? |
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| Institution: | 1. Urban Institute, Department of Urban and Environmental Engineering, Faculty of Engineering, Kyushu University, 744, Motooka Nishi-ku, Fukuoka, Japan;2. QUT Business School, Queensland University of Technology, Level 8, Z Block, Gardens Point, 2 George St, Brisbane QLD 4000, Australia;1. Universitat Autónoma de Barcelona, Institut d’Economia de Barcelona, Spain;2. CSIC, Institute for Public Goods and Policies, Spain;3. Universitat de Barcelona, Institut d’Economia de Barcelona, Spain |
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| Abstract: | It is hypothesised that different property sub-markets react to flood risk information, floods and environmental factors differently. To test this hypothesis this research uses spatial quantile regression and quasi-experimental techniques to examine property sub-market behaviour in response to availability of flood risk information and actual flood. This new contribution to the literature is based on the use of the mapping of flood risk areas in 2009 and the 2011 flooding of Brisbane, Australia, as a case study. The results show that the impact of flood risk and actual flood on property markets varies between different sub-markets. They therefore confirm the existence of property sub-markets based on property and environmental characteristics and suggest the need for differentiate mitigation policies. |
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| Keywords: | Flood Hedonic property price Sub-markets Spatial econometrics |
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