Public transport accessibility and housing value uplift: Evidence from the Docklands light railway in London

Zhe, S., Cao, M., Han, T. and Hickman, R. 2019. Public transport accessibility and housing value uplift: Evidence from the Docklands light railway in London. Case Studies on Transport Policy. 7 (3), pp. 607-616. https://doi.org/10.1016/j.cstp.2019.07.001

TitlePublic transport accessibility and housing value uplift: Evidence from the Docklands light railway in London
TypeJournal article
AuthorsZhe, S.
Cao, M.
Han, T.
Hickman, R.
Abstract

Public transport infrastructure is essential to city development, improving accessibility and allowing people to engage in activities, allowing travel by environmentally-friendly modes, and also creating economic benefits. This study investigates the impacts of public transport accessibility on development, examining changes in housing prices, and applying hedonic modelling. London’s Docklands Light Railway (DLR) is selected as a case study. The findings show that residential properties in station catchment areas of the south-eastern and northern branches of the DLR have a premium respectively of 0.352% and 0.093% per 100 m proximity to a station. By assessing inclusive variables, it is found that housing value is also determined by the property’s own features and the neighbourhood, particularly the property tenure. The detected housing value uplift implies that the provision of good public transport is crucial in policy making, especially in areas with poor public transport accessibility. Moreover, since transport investment is partly capitalised in housing projects, we suggest that future transport infrastructure investment and housing development should be set within a framework of value capture policies.

KeywordsTransport accessibility
Transport infrastructure
Transport investment
Public transport
Docklands Light Railway
Land value uplift
House prices
London
JournalCase Studies on Transport Policy
Journal citation7 (3), pp. 607-616
ISSN2213-624X
Year2019
PublisherElsevier
Accepted author manuscript
Digital Object Identifier (DOI)https://doi.org/10.1016/j.cstp.2019.07.001
Web address (URL)https://www.sciencedirect.com/science/article/pii/S2213624X18301238
Publication dates
Published online03 Jul 2019
Published in printOct 2019
LicenseCC BY-NC-ND 4.0

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