Impact of High Voltage Overhead Transmission Lines on Property Value – An Australian Residential Case Study
||Elliott, Peter; Hoon Han
||Impact of High Voltage Overhead Transmission Lines on Property Value – An Australian Residential Case Study
||20th Annual European Real Estate Society Conference in Vienna, Austria
||This paper examines the impact of high voltage overhead transmission lines (HVOTLs) on the prices of detached houses in Queensland. Perceptual studies and hedonic price modelling undertaken confirm that proximity to HVOTL has an important influence on property value but the bearing of a view and tower structure is more significant. A case study analysis of Eight Mile Plains, Brisbane, indicated mean house prices within a 50 metre buffer zone of HVOTL were 20% lower than the median house price for the suburb but were not significantly different in the 200 metre and over buffer zone. Perceptual studies indicated that the home owner's perceived impacts of HVOTL on property value are on average up to 38% reduction in value at 100 metres whereas property valuers and real estate agent perceptions ranged from 5.4% to 17.2%. Hedonic regression models also suggested that proximity to HVOTL and visual presence is significant as far house price is concerned but has no impact on the capital growth of house prices over time post HVOTL placement.
||HVOTL, Hedonic models, Externalities, Property value, Risk perception studies
Post discussion ...
||Q-3: Real Estate Valuation
These pages are best viewed with any standards compliant browser (e.g. Mozilla).