IDEAS home Printed from https://ideas.repec.org/p/wrk/warwec/581.html
   My bibliography  Save this paper

Is Comprehensive Education Really Free? A Study of the Effects of Secondary School Admissions Policies on House Prices

Author

Listed:
  • Leech, D.
  • Campos, E.

Abstract

This paper reports on a study that tests the anecdotal hypothesis that the prices of houses near popular comprehensive schools carry a premium. Since local education authorities use admissions policies based on catchment areas and places in popular schools are very hard to obtain from outside these areas - but easy from within them - parents have an incentive to move house for the sake of their children's education. This would be expected to be reflected in house prices. The study uses a cross sectional sample based on two popular schools in Coventry.

Suggested Citation

  • Leech, D. & Campos, E., 2000. "Is Comprehensive Education Really Free? A Study of the Effects of Secondary School Admissions Policies on House Prices," The Warwick Economics Research Paper Series (TWERPS) 581, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:581
    as

    Download full text from publisher

    File URL: https://warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp581a.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sandra E. Black, 1999. "Do Better Schools Matter? Parental Valuation of Elementary Education," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(2), pages 577-599.
    2. Steve Gibbons & Stephen Machin, 2001. "Valuing Primary Schools," CEE Discussion Papers 0015, Centre for the Economics of Education, LSE.
    3. Sheppard, Stephen, 1999. "Hedonic analysis of housing markets," Handbook of Regional and Urban Economics, in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 41, pages 1595-1635, Elsevier.
    4. David M. Brasington, 1999. "Which Measures of School Quality Does the Housing Market Value?," Journal of Real Estate Research, American Real Estate Society, vol. 18(3), pages 395-414.
    5. repec:lan:wpaper:1092 is not listed on IDEAS
    6. Bradley, Steve & Taylor, Jim, 1998. "The Effect of School Size on Exam Performance in Secondary Schools," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 291-324, August.
    7. Epple, Dennis, 1987. "Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 59-80, February.
    8. Kim, Sunwoong, 1992. "Search, Hedonic Prices and Housing Demand," The Review of Economics and Statistics, MIT Press, vol. 74(3), pages 503-508, August.
    9. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    10. repec:lan:wpaper:1016 is not listed on IDEAS
    11. Edward Shinnick, 1997. "Measuring Irish housing quality," Journal of Economic Studies, Emerald Group Publishing, vol. 24(1/2), pages 95-119, January.
    12. Freeman, A Myrick, III, 1979. " Hedonic Prices, Property Values and Measuring Environmental Benefits: A Survey of the Issues," Scandinavian Journal of Economics, Wiley Blackwell, vol. 81(2), pages 154-173.
    13. Cheshire, Paul & Sheppard, Stephen, 1998. "Estimating the Demand for Housing, Land, and Neighbourhood Characteristics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(3), pages 357-382, August.
    14. Dubin, Robin A, 1998. "Predicting House Prices Using Multiple Listings Data," The Journal of Real Estate Finance and Economics, Springer, vol. 17(1), pages 35-59, July.
    15. Palmquist, Raymond B, 1984. "Estimating the Demand for the Characteristics of Housing," The Review of Economics and Statistics, MIT Press, vol. 66(3), pages 394-404, August.
    16. Mills, Edwin S. & Simenauer, Ronald, 1996. "New Hedonic Estimates of Regional Constant Quality House Prices," Journal of Urban Economics, Elsevier, vol. 39(2), pages 209-215, March.
    17. Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-675, November.
    18. Witte, Ann D & Sumka, Howard J & Erekson, Homer, 1979. "An Estimate of a Structural Hedonic Price Model of the Housing Market: An Application of Rosen's Theory of Implicit Markets," Econometrica, Econometric Society, vol. 47(5), pages 1151-1173, September.
    19. Can, Ayse & Megbolugbe, Isaac, 1997. "Spatial Dependence and House Price Index Construction," The Journal of Real Estate Finance and Economics, Springer, vol. 14(1-2), pages 203-222, Jan.-Marc.
    20. repec:lan:wpaper:1015 is not listed on IDEAS
    21. Meese, Richard A & Wallace, Nancy E, 1997. "The Construction of Residential Housing Price Indices: A Comparison of Repeat-Sales, Hedonic-Regression and Hybrid Approaches," The Journal of Real Estate Finance and Economics, Springer, vol. 14(1-2), pages 51-73, Jan.-Marc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Steve Gibbons & Stephen Machin, 2001. "Valuing Primary Schools," CEE Discussion Papers 0015, Centre for the Economics of Education, LSE.
    2. Sofia N. Andreou & Panos Pashardes, 2012. "Consumers’ Valuation of Level and Egalitarian Education Attainment of Schools in England," University of Cyprus Working Papers in Economics 10-2012, University of Cyprus Department of Economics.
    3. Leslie Rosenthal, 2003. "The Value of Secondary School Quality," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(3), pages 329-355, July.
    4. Stephen Gibbons & Anne Green & Paul Gregg & Stephen Machin, 2005. "Is Britain Pulling Apart? Area Disparities in Employment, Education and Crime," The Centre for Market and Public Organisation 05/120, The Centre for Market and Public Organisation, University of Bristol, UK.
    5. Chris Taylor & Stephen Gorard, 2001. "The Role of Residence in School Segregation: Placing the Impact of Parental Choice in Perspective," Environment and Planning A, , vol. 33(10), pages 1829-1852, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Leech, Dennis & Campos, Erick, 2001. "Is Comprehensive Education Really Free? A Case Study Of The Effects Of Secondary School Admissions Policies On House Prices In One Local Area," Economic Research Papers 269352, University of Warwick - Department of Economics.
    2. Palmquist, Raymond B., 2006. "Property Value Models," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 16, pages 763-819, Elsevier.
    3. David Mayston, 2007. "Competition And Resource Effectiveness In Education," Manchester School, University of Manchester, vol. 75(1), pages 47-64, January.
    4. Mario du Preez & Michael C. Sale, 2011. "The impact of social housing developments on nearby property prices: A Nelson Mandela Bay Case Study," Working Papers 241, Economic Research Southern Africa.
    5. Jean Cavailhès, 2005. "Le prix des attributs du logement," Économie et Statistique, Programme National Persée, vol. 381(1), pages 91-123.
    6. Brasington, D. M., 2003. "The supply of public school quality," Economics of Education Review, Elsevier, vol. 22(4), pages 367-377, August.
    7. Theodore M. Crone, 2006. "Capitalization of the quality of local public schools: what do home buyers value?," Working Papers 06-15, Federal Reserve Bank of Philadelphia.
    8. Victor Ginsburgh & Jianping Mei & Michael Moses, 2006. "On the computation of art indices in art," ULB Institutional Repository 2013/7290, ULB -- Universite Libre de Bruxelles.
    9. John I. Carruthers & David E. Clark, 2010. "Valuing Environmental Quality: A Space‐Based Strategy," Journal of Regional Science, Wiley Blackwell, vol. 50(4), pages 801-832, October.
    10. Mario Du Preez & Michael Sale, 2013. "The Impact of Social Housing Developments on Nearby Property Prices: a Nelson Mandela Bay Case Study," South African Journal of Economics, Economic Society of South Africa, vol. 81(3), pages 451-466, September.
    11. Kenneth Y. Chay & Michael Greenstone, 2005. "Does Air Quality Matter? Evidence from the Housing Market," Journal of Political Economy, University of Chicago Press, vol. 113(2), pages 376-424, April.
    12. Zhang, Congwen & Boyle, Kevin J. & Kuminoff, Nicolai V., 2015. "Partial identification of amenity demand functions," Journal of Environmental Economics and Management, Elsevier, vol. 71(C), pages 180-197.
    13. Oczkowski, Edward, 2021. "Estimating supply functions for wine attributes: a two-stage hedonic approach," Working Papers 321856, American Association of Wine Economists.
    14. Fritsch, Markus & Haupt, Harry & Ng, Pin T., 2016. "Urban house price surfaces near a World Heritage Site: Modeling conditional price and spatial heterogeneity," Regional Science and Urban Economics, Elsevier, vol. 60(C), pages 260-275.
    15. Nguyen-Hoang, Phuong & Yinger, John, 2011. "The capitalization of school quality into house values: A review," Journal of Housing Economics, Elsevier, vol. 20(1), pages 30-48, March.
    16. Helen Tauchen & Ann Dryden Witte, 2001. "Estimating Hedonic Models: Implications of the Theory," NBER Technical Working Papers 0271, National Bureau of Economic Research, Inc.
    17. Nicolai V. Kuminoff & Jaren C. Pope, 2014. "Do “Capitalization Effects” For Public Goods Reveal The Public'S Willingness To Pay?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(4), pages 1227-1250, November.
    18. Hans R.A. Koster & Jan Rouwendal, 2012. "The Impact Of Mixed Land Use On Residential Property Values," Journal of Regional Science, Wiley Blackwell, vol. 52(5), pages 733-761, December.
    19. Amelia Bilbao & Celia Bilbao & José M. Labeaga, "undated". "The excess burden associated to characteristics of the goods: Application to housing demand," Working Papers 2005-09, FEDEA.
    20. Cheshire, Paul & Sheppard, Stephen, 2002. "The welfare economics of land use planning," Journal of Urban Economics, Elsevier, vol. 52(2), pages 242-269, September.

    More about this item

    Keywords

    PRICES ; SCHOOLS ; EDUCATION;
    All these keywords.

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wrk:warwec:581. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Margaret Nash (email available below). General contact details of provider: https://edirc.repec.org/data/dewaruk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.