Tiemann, Lukas (2020) The Effect of Grocery Store Openings on Residential Property Prices: Evidence from Morrisons Stores in England. Master thesis.
|
Text
Tiemann_Lukas_s3733300_Final_IV.pdf Download (2MB) | Preview |
Abstract
This research focuses on the effect of supermarket openings on nearby residential property prices in England. Previously only a relationship in the US was established. I use data on residential property transactions in England, information about Morrisons supermarket openings from 2010 until 2013 and various neighborhood characteristics. To identify an association between the store openings and property prices, a difference-in-differences regression framework is used. While properties very close to stores do not increase in prices post-opening and announcement, the prices of properties 1 to 2- kilometer away increase by roughly 5 percent after the announcement. The reason why specifically close properties are unaffected, or in some subsamples even negatively affected, are most probable negative externalities such as traffic and construction noise or loss of green space cancelling out any accessibility benefits. It may also be true that there exists no impact for very nearby houses in the analyzed sample. For the radius of 1 to 2-kilometer, heterogeneity tests reveal that flats and apartments are especially affected with an impact of roughly 16% on property prices after announcement. Additionally, the found positive results hold for big but also rather small supermarkets. This study’s findings may hold relevance for municipalities improving their understanding of the value of food stores and issuing planning licenses depending on the current food supply.
| Item Type: | Thesis (Master) |
|---|---|
| Degree programme: | Real Estate Studies |
| Supervisor: | Daams, M.N. and Duijn, M. van |
| Date Deposited: | 25 Aug 2020 09:56 |
| Last Modified: | 25 Aug 2020 09:56 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3329 |
Actions (login required)
 |
View Item |