Results

CEP discussion paper

Mind the lag: Using assessed and list prices as proxies for housing market values

Property transaction prices are widely regarded as the best measure of property value, but are sometimes unavailable. Using data from the Netherlands and New York, we analyze whether list prices and assessed values are r...Read more...

Journal article

American Economic Journal: Economic Policy:

How Do Households Value the Future? Evidence from Property Taxes

Despite the near ubiquity of intertemporal choice, there is little consensus on the rate at which individuals trade present and future costs and benefits. We contribute to this debate by estimating discount rates from ex...Read more...

CEP discussion paper

How do households value the future? Evidence from property taxes

Despite the near ubiquity of inter-temporal choice, there is little consensus on the rate at which individuals trade present and future costs and benefits. We contribute to this debate by estimating discount rates from e...Read more...

CEP discussion paper

The billion pound drop: the blitz and agglomeration economies in London

This paper exploits locally exogenous variation in the location of bombs dropped during the Blitz to quantify the effect of density restrictions on agglomeration economies in London: an elite global city. Employing micro...Read more...

Blog

CEP Urban and Spatial Programme Blog:

Empty homes, longer commutes: the unintended consequences of more restrictive local planning

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CentrePiece article

In brief... Empty homes, longer commutes

In areas of Britain where there are empty houses, planners typically allocate less land for development and make it more difficult to build or adapt houses. Research by Paul Cheshire, Christian Hilber and Hans Koster exp...Read more...

Journal article

Journal of Public Economics:

Empty homes, longer commutes: The unintended consequences of more restrictive local planning

We investigate the impact of land use regulation on housing vacancy rates. Using a 30-year panel dataset on land use regulation for 350 English Local Authorities (LAs) and addressing potential reverse causation and other...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Regulating Housing Vacancies Away? The Paradoxical Effects of Mismatch

Policy makers agree that vacant houses are undesirable. Moreover the existence of empty houses is used as an argument for allocating less land for new construction. So higher vacancy rates tend to trigger tighter restric...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Rocketing Rents The magnitude and attenuation of agglomeration economies in the commercial property market

Rocketing rents in urban areas are likely explained by agglomeration economies. This paper measures the impact of these external economies on commercial property values using unique micro¿]data on commercial rents and em...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Historic Amenities, Income and Sorting of Households

We test the impact of historic amenities on house prices and sorting of households within cities. Conservation area boundaries enable us to employ a semiparametric regression-discontinuity approach to measure the impact ...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Is the Sky the Limit? An Analysis of High-Rise Office Buildings

Modern central business districts are characterised by high-rise office buildings. Helsley and Strange (2008) argue that skyscrapers are caused by agglomeration economies and a prize for being the tallest, so a reputatio...Read more...