The Costs of Urban Property Crime

Bibliographic Data

ID9703513
AuthorsSteve Gibbons (London School of Economics and Political Science), Stephen Gibbons (0000-0002-2871-8562, London School of Economics and Political Science, corresponding author)
Year2004
Volume114
Issue499
PagesF441-F463
Publication date2004-11-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Economic Journal (JOURNAL)
Journal identifiersISSN: 0013-0133 • E-ISSN: 1468-0297
PublisherOxford University Press (OUP) (PUBLISHER)
DOI10.1111/j.1468-0297.2004.00254.x
OpenAlexW2045938752
LanguageEN
Citations received73
References cited18

This paper estimates the impact of recorded domestic property crime on property prices in the London area. Crimes in the Criminal Damage category have a significant negative impact on prices. Burglaries have no measurable impact on prices, even after allowing for the potential dependence of burglary rates on unobserved property characteristics. A one-tenth standard deviation decrease in the local density of criminal damage adds 1 per cent to the price of an average Inner London property. One explanation we offer here is that vandalism, graffiti and other forms of criminal damage motivate fear of crime in the community and may be taken as signals or symptoms of community instability and neighbourhood deterioration in general

Criminology · Economics · Graffiti · Neighbourhood (mathematics · Property (philosophy · Property crime · Property value · Sociology · Violent crime · Crime Patterns and Interventions · Crime, Illicit Activities, and Governance · Finance · Mathematics · Public Spaces through Art