Land-Use Regulations, Property Values, and Rents: Decomposing the Effects of the California Coastal Act

2016 ◽  
Author(s):  
Christopher Severen
Keyword(s):  
Land Use ◽  
Property Values ◽  
Land Use Regulations

The effect of upzoning on house prices and redevelopment premiums in Auckland, New Zealand

Urban Studies ◽  
2020 ◽  
pp. 004209802094060
Author(s):  
Ryan Greenaway-McGrevy ◽  
Gail Pacheco ◽  
Kade Sorensen
Keyword(s):  
Land Use ◽  
New Zealand ◽  
Large Scale ◽  
House Prices ◽  
Property Values ◽  
Economic Potential ◽  
Land Use Regulations ◽  
Short Run ◽  
The Impact

We study the short-run effects of a large-scale upzoning on house prices and redevelopment premiums in Auckland, New Zealand. Upzoning significantly increases the redevelopment premium but the overall effect on house prices depends on the economic potential for site redevelopment, with underdeveloped properties appreciating relative to intensively developed properties. Notably, intensively developed properties decrease in value relative to similar dwellings that were not upzoned, showing that the large-scale upzoning had an immediate depreciative effect on pre-existing intensive housing. Our results show that the economic potential for site redevelopment is fundamental to understanding the impact of changes in land use regulations on property values.

Do Higher Land Costs for New Single-Family Housing Inhibit Economic Activity in U.S. Metropolitan Areas?

2021 ◽  
pp. 089124242110061
Author(s):  
Robert W. Wassmer
Keyword(s):  
Land Use ◽  
Economic Activity ◽  
Metropolitan Areas ◽  
Single Family ◽  
Best Interest ◽  
Residential Land ◽  
Land Use Regulations ◽  
Panel Data Regression ◽  
Data Regression ◽  
Residential Land Use

The price of a new home is greater if the land to put it on costs more. In many U.S. metropolitan areas, this generates the widely acknowledged equity concern that low- to moderate-income households spend disproportionately on housing. But high residential land prices translating into high single-family home prices may also generate the efficiency concern of discouraging new workers’ entry into such areas or encouraging existing workers’ exit. The result could be a decrease in economic activity. This research offers panel-data regression evidence in support of the existence of this adverse outcome. Perhaps these findings can raise the saliency of the needed state or federal government intervention to curtail the stringency of local residential land-use regulations. NIMBYs see these land-use regulations as in their jurisdiction’s best interest, but as demonstrated here, such restrictions impose additional metro-wide economic concerns.

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