Firstly, the coefficients outputs are negative at every proximity. This means that with the presence of a high-voltage power line, the sales value of a house reduces by the respective amounts indicated above. As with the linear regression models, the values in this table show that the most impacted proximity is 200 meters while the least is 500 meters. The negative impact on sales price also diminishes beginning at 200 meters. Moreover, the t Stat outputs are negative because of the decreasing effect on value that high-voltage power lines have. Based on a 95% confidence interval, the t Stat value means the independent variable is significant if less than or more than -1.96 and 1.96 respectively. In this case, if the t Stat is significant …show more content…
This proximity is consistent with the regression models and descriptive statistics. Another similarity is found with the study by Sally Sims and Peter Dent (2005). Their results showed a negative impact on value at a 99% confidence level and that that the negative impacts are negligible when proximity is greater than 250 metres. There is a slight difference in that their housing value was most affected when within 100 metres. This could be explained by other variables, or simply the fact that their dataset focuses on Scotland instead of the Greater Toronto Area. Nevertheless, these similarities and differences are beneficial towards understanding key factors of housing value. Moreover, the findings in this paper also explains the concern of real estate appraisers and agents. Since they generally perceive that high-voltage overhead transmission lines have a negative impact on value, extra steps are potentially required when making a transaction. These extra steps may also address the health-related concerns discussed in the study by Pietro Comba & Lucia Fazzo (2009). This study’s average sales price is $222,291.17 while the average negative impact that a power line has is $10,511.49 (computed by adding the coefficients outputs of proximity to power lines and dividing by 5). With that in mind, on average, the house with a nearby high-voltage power line sold for 4.73% less than the house without (computed as average impact divided by average
In this study, t= -3.15 describes the mental health variable. It is significant because they are the variables being tested since the p value is 0.002 and the alpha is 0.05, the difference can cause the null hypothesis to be rejected.
In line with previous research, RSOs are located in in economically and socially depressed areas (Clark & Duwe, 2015; Gordon, 2013; Hipp, Turner, & Janetta, 2010; Levenson & Cotter, 2005; Mustaine & Tewksbury, 2011; Socia, 2013a, 2013b, 2014; Suresh, Mustaine, Tewksbury, & Higgins, 2010; Tewksbury, 2002, 2007; Tewksbury, Jennings, & Zgoba, 2012; Tewksbury & Mustaine, 2006). There is also the potential of concentrations of RSOs to further push the area into a more depressed area, socially and economically (Mustaine & Tewksbury, 2011; Zevitz, 2003). Property and neighborhood are expected to go into their traditional patterns. For instance, home sale values are lower when the sold property has no AC, less parcel acreage, greater number of years, less basement and building square feet, and no fireplaces. In terms of neighborhood characteristics, it is expected that home sale values are to be decreased in areas with higher rates of Black residents, Hispanics, female-headed households, and lesser rates of Bachelor-degree
The boxplots below show the real estate values of single family homes in two neighboring cities,
South Melbourne and Footscray scored much lower than this getting 17.3/40 and 16.4/40 respectively. Footscray managed to score almost as high as South Melbourne because of the size of the property averaging a score of 1 more in both “house size” and “block size”. South Melbourne beat Footscray in “condition of house”, “garden” and “luxuries”. This indicates South Melbourne is better looking but much smaller than Footscray, which is consistent through all differences between the two in the other
Supply is also affected by the growth of a community over time. For example, a new city with 10,000 homes, expanding rapidly, will have low supply and therefore more expensive homes. An older city, however, with 50,000 homes and fewer and fewer new residents, will see
This case involves an investigation of the factors that affect the sale price of Oceanside condominium units. It represents an extension of an analysis of the same data by Herman Kelting (1979). Although condo sale prices have increased dramatically over the past 20 years, the relationship between these factors and sale price remain about the same. Consequently, the data provide valuable insight into today’s condominium sales market.
The metro article "Real estate window shopping: When it's too expensive to live in Vancouver, or Toronto" is regarding the extremely hot real estate markets in Toronto and Vancouver. In this article the author is questioning the market price of houses in these two cities. The article starts off by the author comparing her brother's million dollar home to what she imagined a million dollar home would look like when she was little. It goes on to compare house prices in other countries and cities to Toronto, for example, an average home in Toronto cost $710000 while you can purchase a 2 bedroom cottage on a 3.47 acre waterfront land for only $135000. Alternatively, you can purchase a 14.5 acre castle eight bedrooms, seven bathrooms,
First of all, the finding cannot be related back to all Auckland houses-it cannot even be related back to either Epsom or One Tree Hill, as sellers in the two suburbs appears to have different preference in selling methods and the two suburbs have considerably different median house prices mainly due to the difference of surrounding economy and education resource. I expect every suburb to have different median prices and selling preferences according to the different level of demand, thus when investigating sale price by selling method in a population containing two suburbs the result can be hard to relate back to either suburb because the suburbs in fact have very different backgrounds and in a mixed sample they affect each other
Two or three homes away is a different neighborhood. Homes can be worth hundreds of thousands of dollars, maybe millions more.
In order to answer this question we first have to consider whether the value provided to the commercial and residential markets is the same. While it may look like the value is similar, upon closer inspection, we can identify an important distinction between the values provided to the two markets:
Since 3.27 the t statistic is in the rejection area to the right of =1.701, the level of
Government policies and subsides have a sizable impact on property price, and demand. The government can temporarily boost demand with tax credits, deduction and subsidies. From the customers point of view
In this report, the question “How much of the changes in the median selling price of homes in a city can be explained by the changes in median income of that city?” is answered. Home ownership is an important aspect of one’s life stages, and home prices are determined by demand and supply. The demand curve is affected by the one’s income, such that as one’s income increases, one is more willing to pay a higher price for the same quantity of goods (Baye & Prince, 2014). However, there are many other factors that might affect the demand curve, e.g. no. of children, in the household, the perceived quality of education in the school district, or the number of job positions (filled or open) around the city. According to Burda
The data for the second test to be conducted by our group consists of lot sizes of the residential properties that are up for sale in Toronto and Vancouver. The samples are represented in m2 (metres squared; area of the land in which the residential properties are built on). The data taken are based on the properties that are up for
According to Trulia and Zillow, one house that is being sold in Crow Creek has the size of 1,906 square feet, and one house that is being sold around Gains Street has the size of 2,900 square feet. As you can see, even sometimes the houses that are being sold around Gains Street can be possibly larger than the ones that are being sold in Crow Creek. The homes in Crow Creek were built with expensive, smooth, and colorful brick which were ordered by upper income people. In similar fashion, the homes surrounding Gains Street also contained these smooth and colorful bricks. These bricks might not be as expensive, however they appeared to be similar in texture and color. Second of all, even though that both of these neighborhoods contained abnormally large homes, doesn’t mean that they were up kept the same way. My friends and I could clearly tell the difference on which homes were annual and daily cleaned as well as trimmed. The living quarters that were over in Crow Creek were obviously kept up daily considering that the each and every one of them had flowers in front of them. They had also made sure no trees or untrimmed bushes were blocking the views from the street to their beautiful homes. Despite having a similar structure of houses around Gains Street and Crow Creek, Gains Street had houses that were not being annual and daily cleaned as well as trimmed. My friends and I could absolutely point out that living quarters around Gains Street were not kept up due to the