Research Discussion Paper – RDP 2018-03 The Effect of Zoning on Housing Prices
Contents
- Introduction
- Related Research
- Decomposing Property Values into Dwelling Structure and Land
- Estimating the Physical Value of Land
- Zoning Effect Estimates
- Decomposing Average House Prices over Time
- Geographic Distribution of Zoning Effects within Cities
- Apartment Prices and Marginal Costs
- Discussion
- Appendix A: Examples of Zoning Effects on Land and Property Values
- Appendix B: Detailed 2016 Detached Housing Regression Results
- References
- Copyright and Disclaimer Notices
The authors would like to thank Paul Chudleigh, Brendan Coates, Luci Ellis, Jonathan Kearns, Gianni La Cava, Kirdan Lees, Phil Manners, David Norman, Anthony Richards, Tom Rosewall, John Simon, Trent Wiltshire and seminar participants at the Reserve Bank of Australia, New South Wales Department of Planning and Environment, and New South Wales Treasury for useful feedback and discussions. The RBA's Regional and Industry Analysis section provided valuable assistance. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Reserve Bank of Australia. The authors are solely responsible for any errors.