Re: Re: Report quantifies Luas effect on house prices
Also: “We find that living close to railway stations is considered a positive externality as it improves transportation access. Train tracks however have a negative impact on house prices as they bring about noise and visual intrusion. We have shown that the premium associated with the proximity to a rail link also depends on the type of rail considered. Indeed, the newer transport links in the Dublin area have a greater premium than older rail alternatives. We find the largest premium for light rail, followed by heavy rail and commuter transit. Debrezion et al. (2007) find the opposite order, and a generally lower impact. The different pattern in Dublin is probably explained by the age of the different rail systems, the frequency of the connections, and perhaps the location of the lines”.