Value of playgrounds relative to green spaces: Matching evidence from property prices in Australia

Robert Breunig; Syed Hasan; Kym Whiteoak

doi:10.1016/j.landurbplan.2019.103608

Value of playgrounds relative to green spaces: Matching evidence from property prices in Australia

Robert Breunig^*, Syed Hasan, Kym Whiteoak

^*Corresponding author for this work

Crawford School of Public Policy

Research output: Contribution to journal › Article › peer-review

16 Citations (Scopus)

Abstract

We examine the effect on house prices of the presence of a small playground relative to an empty green space using a matching approach combined with hedonic regression analysis. Using a data set of 33,521 property sales in urban Australia, we match properties near small playgrounds to similar properties near two empty, open green spaces which are candidates for playground construction. We control for property characteristics and distance to a wide range of urban amenities and other open spaces. We find that the presence of a playground within 300 metres adds about AU$20,000 (4.6 per cent) to the average property price. The price effect of a playground is larger for houses than apartments and falls with distance from the playground.

Original language	English
Article number	103608
Pages (from-to)	1-20
Number of pages	20
Journal	Landscape and Urban Planning
Volume	190
Early online date	15 Jul 2019
DOIs	https://doi.org/10.1016/j.landurbplan.2019.103608
Publication status	Published - Oct 2019

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title = "Value of playgrounds relative to green spaces: Matching evidence from property prices in Australia",

abstract = "We examine the effect on house prices of the presence of a small playground relative to an empty green space using a matching approach combined with hedonic regression analysis. Using a data set of 33,521 property sales in urban Australia, we match properties near small playgrounds to similar properties near two empty, open green spaces which are candidates for playground construction. We control for property characteristics and distance to a wide range of urban amenities and other open spaces. We find that the presence of a playground within 300 metres adds about AU\$20,000 (4.6 per cent) to the average property price. The price effect of a playground is larger for houses than apartments and falls with distance from the playground.",

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N2 - We examine the effect on house prices of the presence of a small playground relative to an empty green space using a matching approach combined with hedonic regression analysis. Using a data set of 33,521 property sales in urban Australia, we match properties near small playgrounds to similar properties near two empty, open green spaces which are candidates for playground construction. We control for property characteristics and distance to a wide range of urban amenities and other open spaces. We find that the presence of a playground within 300 metres adds about AU$20,000 (4.6 per cent) to the average property price. The price effect of a playground is larger for houses than apartments and falls with distance from the playground.

AB - We examine the effect on house prices of the presence of a small playground relative to an empty green space using a matching approach combined with hedonic regression analysis. Using a data set of 33,521 property sales in urban Australia, we match properties near small playgrounds to similar properties near two empty, open green spaces which are candidates for playground construction. We control for property characteristics and distance to a wide range of urban amenities and other open spaces. We find that the presence of a playground within 300 metres adds about AU$20,000 (4.6 per cent) to the average property price. The price effect of a playground is larger for houses than apartments and falls with distance from the playground.

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KW - Matching

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KW - Property price

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SP - 1

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JO - Landscape and Urban Planning

JF - Landscape and Urban Planning

M1 - 103608

ER -

Value of playgrounds relative to green spaces: Matching evidence from property prices in Australia

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