The effect of upzoning on house prices and redevelopment premiums in Auckland, New Zealand

Datos Bibliográficos

ID10859010
AutoresRyan Greenaway-McGrevy (0000-0002-2822-9849, University of Auckland, autor de correspondencia), Gail Pacheco (0000-0001-9988-0092, Auckland University of Technology), Kade Sorensen (University of Auckland)
Año2021
Volumen58
Número5
Páginas959-976
Fecha de publicación2021-04-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaUrban Studies (JOURNAL)
Identificadores de la revistaISSN: 0042-0980 • E-ISSN: 1360-063X
EditorialSAGE Publications (PUBLISHER • US)
DOI10.1177/0042098020940602
OpenAlexW3080377616
IdiomaEN
Citas recibidas23
Referencias citadas26

We study the short-run effects of a large-scale upzoning on house prices and redevelopment premiums in Auckland, New Zealand. Upzoning significantly increases the redevelopment premium but the overall effect on house prices depends on the economic potential for site redevelopment, with underdeveloped properties appreciating relative to intensively developed properties. Notably, intensively developed properties decrease in value relative to similar dwellings that were not upzoned, showing that the large-scale upzoning had an immediate depreciative effect on pre-existing intensive housing. Our results show that the economic potential for site redevelopment is fundamental to understanding the impact of changes in land use regulations on property values

Cartography · Civil engineering · Econometrics · Economics · Geography · Hedonic Pricing · House price · Land use · Land value · land values · Natural resource economics · Property value · Real estate · Redevelopment · Scale (ratio · Value (mathematics · Economic and Environmental Valuation · Engineering · Finance · Housing Market and Economics · Mathematics · New Zealand Economic and Social Studies