Please use this identifier to cite or link to this item:
Scopus Web of Science® Altmetric
Type: Journal article
Title: Assessing the spatial impact of policy interventions on real-estate values: an exemplar of the use of the hybrid hedonic/repeat-sales method
Author: Leishman, C.
Watkins, C.
Citation: Regional Studies, Regional Science, 2017; 4(1):202-217
Publisher: Routledge, Taylor & Francis Group
Issue Date: 2017
ISSN: 2168-1376
Statement of
Chris Leishman and Craig Watkins
Abstract: This paper sets out to make a contribution to the extensive literature that seeks to develop methods that allow rigorous and robust analysis of the spatial and temporal impacts of public policy interventions on property (real-estate) values. It argues that the hybrid repeat-sales/hedonic method developed in realestate studies over the last 30 years has considerable, but as yet under-developed, potential as a policy analysis tool. Using data from Glasgow, UK, the empirical analysis illustrates how the technique can be used to understand the spatial spillovers and the dynamic temporal effects of a historic £100 million state-led, area-based, urban-renewal programme, New Life for Urban Scotland. The paper concludes by arguing that, with the rise in the availability of rich geocoded, micro-datasets, this framework is sufficiently flexible to be used to evaluate the real-estate market impacts of a wide range of public policy interventions. Significantly, as the case study demonstrates, the framework overcomes some of the sustained criticisms of the more commonly used hedonic modelling approach. There is, however, still much to do to enhance the technical qualities of the models through further application.
Keywords: House prices; price indices; urban regeneration; policy evaluation
Rights: © 2017 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution License ( by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
DOI: 10.1080/21681376.2017.1360790
Appears in Collections:Aurora harvest 8
Centre for Housing, Urban and Regional Planning publications

Files in This Item:
File Description SizeFormat 
hdl_114512.pdfPublished version863.89 kBAdobe PDFView/Open

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.