Schram, Thomas (2022) Network Position and Property Value: Applying a network theory perspective to study the relationship between accessibility and house prices. Master thesis.
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Abstract
This thesis examines the influence of new metro stops on house prices in the Greater Manchester Metropolitan Area between 2010 and 2019. In this period, the metropolitan light rail network was expanded. First, the effect of new stops on house prices is examined. This examination is performed by a model that compares the transactions, which occurred before a new stop was built, to transactions which occurred after the opening of a new stop. Secondly, in contrast to other studies, a difference-in-difference model is used that includes a unique treatment and control group for every metro stop. The main finding is that the new stops in the Metrolink network of Greater Manchester have distinct effect sizes among each other. The effects of new stops on house prices range from positive to negative. In addition, a geographically weighted regression GWR is used. The reason for including a GWR is that the difference-in-difference model only includes coefficients for the nearest stop whereas the GWR provides more insight into spatial patterns of a variable effect. To measure the influence of network position on house prices, gravity-based network parameters are used. The GWR concludes that an improved network position increases house prices. However, not all variation in the effect of Metrolink stops on house prices over the region is explained by network position. Further research could focus on further developing complexity and network approaches in house prices models.
| Item Type: | Thesis (Master) |
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| Degree programme: | Real Estate Studies |
| Supervisor: | Vlist, A.J. van der and Duijn, M. van |
| Date Deposited: | 27 Jan 2022 10:48 |
| Last Modified: | 27 Jan 2022 10:48 |
| URI: | https://frw.studenttheses.ub.rug.nl/id/eprint/3757 |
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