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Land value uplift from light rail

Author

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  • Cameron K. Murray

    (School of Economics, The University of Queensland, St Lucia, Brisbane, Australia)

Abstract

Land value gains attributable to the light rail system on the Gold Coast, Australia, are estimated. Using the full history of statutory land valuations of Gold Coast properties, a model of location-specifi c gains is estimated, allowing for price e ffects at multiple distances from stations across time. Total value gains to nearby landowners are $300 million, or 25% of the capital cost of the project, This estimate is net of automatic property tax increases of $4.8million in 2015-16. Substantial additional scope to fund transport investment from value gains is apparent.

Suggested Citation

  • Cameron K. Murray, 2016. "Land value uplift from light rail," Discussion Papers Series 566, School of Economics, University of Queensland, Australia.
    • Handle: RePEc:qld:uq2004:566
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    File URL: https://economics.uq.edu.au/files/46165/566.pdf
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    References listed on IDEAS

    as
    1. Murray, Cameron K. & Frijters, Paul, 2016. "Clean money, dirty system: Connected landowners capture beneficial land rezoning," Journal of Urban Economics, Elsevier, vol. 93(C), pages 99-114.
    2. Corinne Mulley, 2014. "Accessibility and Residential Land Value Uplift: Identifying Spatial Variations in the Accessibility Impacts of a Bus Transitway," Urban Studies, Urban Studies Journal Limited, vol. 51(8), pages 1707-1724, June.
    3. Mohammad, Sara I. & Graham, Daniel J. & Melo, Patricia C. & Anderson, Richard J., 2013. "A meta-analysis of the impact of rail projects on land and property values," Transportation Research Part A: Policy and Practice, Elsevier, vol. 50(C), pages 158-170.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Yen, Barbara T.H. & Mulley, Corinne & Shearer, Heather & Burke, Matthew, 2018. "Announcement, construction or delivery: When does value uplift occur for residential properties? Evidence from the Gold Coast Light Rail system in Australia," Land Use Policy, Elsevier, vol. 73(C), pages 412-422.
    2. Keaton Jenner & Peter Tulip, 2020. "The Apartment Shortage," RBA Research Discussion Papers rdp2020-04, Reserve Bank of Australia.
    3. Yakubu Suleiman & Adeyemi Ajayi & Sule Abass & Ogunbajo Rukaiyyat, 2020. "The Relationship Between Road Infrastructure Budgetary Expenditures and Commercial Property Investment Returns. Case Study of Fadikpe Area Minna, Nigeria," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 8(1), pages 187-196, January.

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    Keywords

    Land value; betterment; light rail;
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