Untangling proximity and accessibility effects of transit on property prices
Notice bibliographique
Résumé
Most research interested in understanding the causal impacts of transit investments on property prices approach the topic through the lens of proximity. However, recent research highlights the networked nature of accessibility impacts. This presents challenges in causal research, particularly in mapping accessibility impacts, defining treatment and control groups, and estimating property price effects. Using the Evergreen Extension in Metro Vancouver, this research examines how proximity to new stations and changes in accessibility over time are capitalized into property prices, disentangling their distinct and combined effects. As commonly applied in the literature, the proximity-based measures identify treated properties based on their distance to the nearest station. For the accessibility-based approach, we measure changes in gravity-based scores over time to capture regional accessibility effects and treatment intensities along an ordered continuum, identifying areas experiencing accessibility gains, losses or stability. Results show that the spatial distribution of accessibility-based effects extend beyond conventionally-defined proximity catchments, suggesting an accessibility-based approach can better capture potential treatment effects associated with network spillovers. Next, fixed-effects models, using repeat sales, are then estimated to causally identify price premiums associated with both the proximity-based and accessibility-based measures. First, we find that, in line with urban economic theory, 1) proximity to new stations is positively valued, 2) increases in network access and regional connectivity to employment yield larger positive price effects, and 3) there is a combined premium placed on both proximity-based and accessibility-based benefits. Second, while proximity effects align with expectations, where treatment properties closer to the new stations command higher price premiums than those farther away, accessibility-based price effects do not. Specifically, higher treatment levels in the accessibility-based models do not consistently yield the highest premiums. This prompts an important perceptual question on whether homebuyers view proximity as a more intuitive signal of accessibility than broader regional network connectivity, which may be more intangible. We contribute knowledge through a dynamic approach that captures accessibility impacts for causal estimations, moving beyond the limitations of proximity-based measures in transit impact research. • Examines both proximity- and accessibility-based effects from a new transit system in Vancouver. • Highlights challenges in causal research, including mapping accessibility impacts, and defining control and treatment groups. • Accessibility impacts extend beyond conventional proximity catchments. • Both proximity and regional accessibility to employment, as well as their combined influence attract price premiums • Do homebuyers view proximity as a more intuitive signal of accessibility than regional network connectivity?
Récupéré en direct depuis OpenAlex et désinversé. Les résumés ne sont pas conservés dans cette base de données : les index inversés représentent 8,6 Go des 9,3 Go de texte de la base, et le serveur dispose de 13 Go libres.
Comment cette classification a été obtenuedéplier
Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,001 | 0,000 |
| Méta-épidémiologie (sens strict) | 0,000 | 0,000 |
| Méta-épidémiologie (sens large) | 0,000 | 0,000 |
| Bibliométrie | 0,000 | 0,001 |
| Études des sciences et des technologies | 0,000 | 0,001 |
| Communication savante | 0,000 | 0,000 |
| Science ouverte | 0,000 | 0,000 |
| Intégrité de la recherche | 0,000 | 0,000 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,000 | 0,000 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».