The Amenity Value of Bicycle Infrastructure: Difference between revisions

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Journal article record
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	Missing keywords - please add now
Locations	Greater Manchester‎
How to find and cite this journal article
Publication	10.1007/s10640-024-00936-0
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Citation

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 {{journal article record
 | 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}}
 | date = {{PD|November 2024}}