School quality and residential values : evidence from Vancouver zoning

UBC Faculty Research and Publications

School quality and residential values : evidence from Vancouver zoning Ries, John C.; Somerville, Tsur

Abstract

This study exploits changes in the catchment areas of public schools in Vancouver, British Columbia to measure the house price capitalization of school quality. Using repeat sales methods to control for time invariant neighborhood effects and disaggregated price indexes to capture time-varying neighborhood price appreciation, we identify significant effects of secondary school performance on residential prices. These effects are limited to homes that experienced large changes in school quality. Our results imply that the prices of residences experiencing the largest improvement in secondary school quality due to the boundary change rose by roughly 4 percent, equivalent to $14,000 for the median home in that area.

Item Metadata

Title	School quality and residential values : evidence from Vancouver zoning
Creator	Ries, John C.; Somerville, Tsur
Contributor	University of British Columbia. Centre for Urban Economics and Real Estate
Publisher	University of British Columbia. Centre for Urban Economics and Real Estate
Date Issued	2004-12-20
Description	This study exploits changes in the catchment areas of public schools in Vancouver, British Columbia to measure the house price capitalization of school quality. Using repeat sales methods to control for time invariant neighborhood effects and disaggregated price indexes to capture time-varying neighborhood price appreciation, we identify significant effects of secondary school performance on residential prices. These effects are limited to homes that experienced large changes in school quality. Our results imply that the prices of residences experiencing the largest improvement in secondary school quality due to the boundary change rose by roughly 4 percent, equivalent to $14,000 for the median home in that area.
Genre	Working Paper
Type	Text
Language	eng
Date Available	2017-01-24
Provider	Vancouver : University of British Columbia Library
Rights	Attribution-NonCommercial-NoDerivs 2.5 Canada
DOI	10.14288/1.0052291
URI	http://hdl.handle.net/2429/50528
Affiliation	Business, Sauder School of
Peer Review Status	Unreviewed
Scholarly Level	Faculty
Rights URI	http://creativecommons.org/licenses/by-nc-nd/2.5/ca/
Aggregated Source Repository	DSpace

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