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Trade-offs between transportation, house price and amenities in residential location choice in Oxfordshire, UK

Trade-offs between transportation, house price and amenities in residential location choice in Oxfordshire, UK
Trade-offs between transportation, house price and amenities in residential location choice in Oxfordshire, UK
Stated preference (SP) experiments are introduced and applied to an investigation of the impact of transport and other factors on residential location. The experiments, based upon repeated hypothetical discrete choice between three different locations, involved respondents making tradeoffs between the various characteristics in a fractional factorial, orthogonal survey design. 360 homeowners were surveyed, with 96 usable replies. The relevant attributes considered in the SP exercise included house price, house location, residential density, quality of schools, noise level, travel time and cost to work, travel cost to supermarkets. The estimation results indicate that the housing attributes considered have significant effects on the attractiveness of residential location. For the full data set it is estimated that one-minute of travel time to work and one pence of travel cost to work are worth £6.418 and £926 of house price respectively, while value of time is estimated around 7 pence per minute. This is not surprising because the values reflect the spatial variation of house prices in Oxfordshire
1226-5934
1-18
Pagliara, Francesco
9388cc18-ba13-4059-a90e-0112b6b48297
Preston, John
ef81c42e-c896-4768-92d1-052662037f0b
Kim, Jae Hong
f02bdc0f-1fd7-481d-a452-6e3d419d905d
Pagliara, Francesco
9388cc18-ba13-4059-a90e-0112b6b48297
Preston, John
ef81c42e-c896-4768-92d1-052662037f0b
Kim, Jae Hong
f02bdc0f-1fd7-481d-a452-6e3d419d905d

Pagliara, Francesco, Preston, John and Kim, Jae Hong (2006) Trade-offs between transportation, house price and amenities in residential location choice in Oxfordshire, UK. International Journal of Urban Sciences, 10 (1), 1-18. (doi:10.1080/12265934.2006.9693583).

Record type: Article

Abstract

Stated preference (SP) experiments are introduced and applied to an investigation of the impact of transport and other factors on residential location. The experiments, based upon repeated hypothetical discrete choice between three different locations, involved respondents making tradeoffs between the various characteristics in a fractional factorial, orthogonal survey design. 360 homeowners were surveyed, with 96 usable replies. The relevant attributes considered in the SP exercise included house price, house location, residential density, quality of schools, noise level, travel time and cost to work, travel cost to supermarkets. The estimation results indicate that the housing attributes considered have significant effects on the attractiveness of residential location. For the full data set it is estimated that one-minute of travel time to work and one pence of travel cost to work are worth £6.418 and £926 of house price respectively, while value of time is estimated around 7 pence per minute. This is not surprising because the values reflect the spatial variation of house prices in Oxfordshire

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Published date: 2006
Organisations: Transportation Group

Identifiers

Local EPrints ID: 403189
URI: https://eprints.soton.ac.uk/id/eprint/403189
ISSN: 1226-5934
PURE UUID: f2f8d90a-b291-4742-a63a-7bd5ee66f0fe
ORCID for John Preston: ORCID iD orcid.org/0000-0002-6866-049X

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Date deposited: 30 Nov 2016 16:58
Last modified: 20 Jul 2019 00:55

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Contributors

Author: Francesco Pagliara
Author: John Preston ORCID iD
Author: Jae Hong Kim

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