The Impact of a Light Rail System on the Structure of House Prices

The Impact of a Light Rail System on the Structure of House Prices

Two conventional railway lines in Greater Manchester were replaced by a new light rail system. This paper uses hedonic price methodology to examine whether any of the claimed benefits were capitalised in house prices. No discernible effect was found. This finding contrasts with claims made for the urban transit schemes in other countries. Reasons for the differences and methodological problems with the current literature are discussed.

Share Content

Facebook
Twitter
LinkedIn

Related Articles

Economies of Scale in Bus transport: I. Some British Municipal Results

This study was prompted by the proposal to merge a number of municipal transport undertakings into Passenger transport Authorities. The authors analyse figures showing various working expenses per bus-mile, and find no evidence of scale economies. They point out, however, that the P.T.A.s will be larger than any undertaking in their sample, and that a different conclusion might conceivably be reached if data were available on costs per passenger-mile. Extension of one-man operation appears to offer greater scope for economies than amalgamation.

View Journal »