The Amenity Value of Bicycle Infrastructure: Difference between revisions
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{{journal article record | {{journal article record | ||
| title = The Amenity Value of Bicycle Infrastructure: A Hedonic Application to Greater Manchester, UK | | title = The Amenity Value of Bicycle Infrastructure: A Hedonic Application to Greater Manchester, UK | ||
| abstract = | | abstract = Using hedonic and spatial regressions, this paper estimates a significantly larger association between proximity to bicycle networks and property prices than previously reported. As cities face increasing challenges of congestion and pollution, many are implementing policies to integrate bicycle facilities and other active modes of transport. However, policymakers are slow to support these initiatives and remain skeptical due to the investment costs required and appropriation of limited land. Drawing on a large dataset of approximately 253,000 transactions in Greater Manchester, over a 9-year period, we find clear evidenced that a 1 km reduction in distance to the nearest bicycle network is associated with property values being around 2.8% higher, on average, and 7.7% higher in the central borough of Manchester. We also provide an applied example to rank new bicycle routes by comparing their benefit-to-cost ratios and a discussion on the property tax system. | ||
| journal= {{journal|Environmental and Resource Economics}} | | journal= {{journal|Environmental and Resource Economics}} | ||
| date = | | date = {{PD|November 2024}} | ||
| volume =| issue= | pages= | | volume =88 | issue= | pages= 425–457 | ||
| authors = {{author|David|Hearne}} {{author|Erez|Yerushalmi}} | | authors = {{author|David|Hearne}} {{author|Erez|Yerushalmi}} | ||
| keywords = | | keywords = {{KW|Cycling}} | ||
| locations = {{location|Greater Manchester}} | | locations = {{location|Greater Manchester}} | ||
| citation = | | citation = {{citation|Hearne, D., Yerushalmi, E. The Amenity Value of Bicycle Infrastructure: A Hedonic Application to Greater Manchester, UK. Environ Resource Econ 88, 425–457 (2025).}} | ||
| doi = {{doi|10.1007/s10640-024-00936-0}} | | doi = {{doi|10.1007/s10640-024-00936-0}} | ||
| open_access = {{open access | test_date=20 February 2025}} | |||
}} | }} | ||
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Latest revision as of 09:29, 28 February 2025
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| Journal article record
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| Title | The Amenity Value of Bicycle Infrastructure: A Hedonic Application to Greater Manchester, UK |
| Journal | Environmental and Resource Economics vol. 88 pp. 425–457
|
| Abstract | Using hedonic and spatial regressions, this paper estimates a significantly larger association between proximity to bicycle networks and property prices than previously reported. As cities face increasing challenges of congestion and pollution, many are implementing policies to integrate bicycle facilities and other active modes of transport. However, policymakers are slow to support these initiatives and remain skeptical due to the investment costs required and appropriation of limited land. Drawing on a large dataset of approximately 253,000 transactions in Greater Manchester, over a 9-year period, we find clear evidenced that a 1 km reduction in distance to the nearest bicycle network is associated with property values being around 2.8% higher, on average, and 7.7% higher in the central borough of Manchester. We also provide an applied example to rank new bicycle routes by comparing their benefit-to-cost ratios and a discussion on the property tax system. |
| Authors | David Hearne Erez Yerushalmi
|
| Date |  November 2024
|
| Keywords and locations | |
| Keywords | Cycling
|
| Locations | Greater Manchester
|
| How to find and cite this journal article | |
| Publication |  10.1007/s10640-024-00936-0
|
| Access | This journal article is open access and can be read for free as of 20 February 2025. |
| Citation | Hearne, D., Yerushalmi, E. The Amenity Value of Bicycle Infrastructure: A Hedonic Application to Greater Manchester, UK. Environ Resource Econ 88, 425–457 (2025). |
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