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More Reliable Land Price Index: Is There a Slope Effect?

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  • Yi Huang

    (Institute of Urban Development, Nanjing Audit University, Nanjing 211815, China)

  • Geoffrey Hewings

    (Regional Economics Applications Laboratory (REAL), Departments of Economics, Agricultural & Consumer Economics, Geography & Regional Science, Urban & Regional Planning and the Institute of Government & Public Affairs, University of Illinois at Urbana-Champaign, Champaign, IL 61820, USA)

Abstract

This paper focuses on the physical attributes of land that intrinsically limit land use and possibly affect land values. In particular, we investigate if the slope of a land does decrease its price and investigate the role of land slope in forming more reliable constant-quality land price indices and aggregate house price indices. We find that, while land slopes do decrease the land price per unit, they have a small effect on the quality-adjusted land price indices in selected neighborhoods in Auckland, New Zealand, where sloped terrain is common.

Suggested Citation

  • Yi Huang & Geoffrey Hewings, 2021. "More Reliable Land Price Index: Is There a Slope Effect?," Land, MDPI, vol. 10(3), pages 1-24, March.
    • Handle: RePEc:gam:jlands:v:10:y:2021:i:3:p:261-:d:510729
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