Do affluent neighbourhoods pay more for transit access? Exploring the capitalization of employment accessibility within different housing submarkets in Vancouver

Document Type

Journal Article

Publication Date

2024

Subject Area

place - north america, place - urban, land use - impacts, land use - planning, ridership - disadvantage, policy - equity

Keywords

Transit accessibility, Land value impacts, Neighbourhood classification and housing market segmentation, Sociodemographic submarkets, Spatial econometrics, Transport equity

Abstract

Decades of research indicate that accessibility plays a fundamental role in the urban systems of cities by influencing land markets and household location choices. Accessibility is also often positioned as a policy tool in enhancing the well-being of disadvantaged population groups. Considered together, recent research into transportation equity underscores the need to critically investigate the distribution of accessibility with their affordability impacts. To better understand this dynamic, this research assesses variability in the relationship between employment access and house prices within different neighbourhood types in Metro Vancouver. We first calculate network accessibility to employment opportunities. Next, to integrate equity, we use sociodemographic indicators from census data to establish a typology of four neighbourhoods: Affluent, Stable Middle-class, At-Risk Middle-class and Economically-disadvantaged. Finally, using real estate data, we employ spatial econometric models to estimate differences in the capitalization of accessibility in residential property prices across these neighbourhood types. Results suggest that the value of transit access does differ by neighbourhood type in Metro Vancouver. While more affluent neighbourhoods exhibit the highest marginal willingness to pay for accessibility, predicted prices are highest in disadvantaged neighbourhoods due to their higher absolute levels of access. The research offers new insight into how property price effects vary according to different accessibility and sociodemographic contexts, and highlights important implications for both policy and future research.

Rights

Permission to publish the abstract has been given by Elsevier, copyright remains with them.

Comments

Journal of Transport Geography home Page:

http://www.sciencedirect.com/science/journal/09666923

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