TY - JOUR
T1 - Value of playgrounds relative to green spaces: Matching evidence from property prices in Australia
AU - Breunig, Robert
AU - Hasan, Syed
AU - Whiteoak, Kym
PY - 2019
Y1 - 2019
N2 - We examine the effect on house prices of the presence of a small playground relative to an empty green space using a matching approach combined with hedonic regression analysis. Using a data set of 33,521 property sales in urban Australia, we match properties near small playgrounds to similar properties near two empty, open green spaces which are candidates for playground construction. We control for property characteristics and distance to a wide range of urban amenities and other open spaces. We find that the presence of a playground within 300 metres adds about AU$20,000 (4.6 per cent) to the average property price. The price effect of a playground is larger for houses than apartments and falls with distance from the playground.
AB - We examine the effect on house prices of the presence of a small playground relative to an empty green space using a matching approach combined with hedonic regression analysis. Using a data set of 33,521 property sales in urban Australia, we match properties near small playgrounds to similar properties near two empty, open green spaces which are candidates for playground construction. We control for property characteristics and distance to a wide range of urban amenities and other open spaces. We find that the presence of a playground within 300 metres adds about AU$20,000 (4.6 per cent) to the average property price. The price effect of a playground is larger for houses than apartments and falls with distance from the playground.
U2 - 10.1016/j.landurbplan.2019.103608
DO - 10.1016/j.landurbplan.2019.103608
M3 - Article
VL - 190
SP - 1
EP - 20
JO - Landscape and Urban Planning
JF - Landscape and Urban Planning
SN - 0169-2046
ER -