Big house, little house relative size and value
Language: English Series: Real Estate Economics ; 34(3) 2006, 439-456(18)Publication details: 2006Subject(s): Summary: Examines the issue of which the market values more highly: the largest house in a neighbourhood of small houses or the smallest house in a neighbourhood of large houses. Using house sales data from one local government area, this problem is looked at in terms three hypotheses: atypicality, the conspicuous consumption effect and the tax capitalization effect. Concludes that of these theories, the estimates are consistent with the fiscal capitalization theory, which leads to lower prices for larger houses and higher prices for smaller houses in the neighbourhood, and/or longer and shorter marketing times respectively.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L135133 (Browse shelf(Opens below)) | 1 | Available | 135133-1001 |
Examines the issue of which the market values more highly: the largest house in a neighbourhood of small houses or the smallest house in a neighbourhood of large houses. Using house sales data from one local government area, this problem is looked at in terms three hypotheses: atypicality, the conspicuous consumption effect and the tax capitalization effect. Concludes that of these theories, the estimates are consistent with the fiscal capitalization theory, which leads to lower prices for larger houses and higher prices for smaller houses in the neighbourhood, and/or longer and shorter marketing times respectively.