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Transport Costs and Urban Property Values in the 1970s

Author

Listed:
  • Alan W. Evans

    (University of Reading and Clive Beed is Senior Lecturer in Economics at the University of Melbourne)

  • Clive Beed

    (University of Melbourne)

Abstract

In this paper we use data on property values published annually for the 56 local government areas in the Melbourne metropolitan area to investigate the response of the property market to the oil price rises of the seventies. We show that property values appeared to have responded rapidly to the Australian petrol price increase of 1978, more accessible properties gaining in value relative to less accessible. The 1973 increase was not passed on to Australian consumers but the depression in manufacturing industry which started after it, also had an impact on the property market as values in areas where manufacturing workers lived fell in value relative to others.

Suggested Citation

  • Alan W. Evans & Clive Beed, 1986. "Transport Costs and Urban Property Values in the 1970s," Urban Studies, Urban Studies Journal Limited, vol. 23(2), pages 105-117, April.
    • Handle: RePEc:sae:urbstu:v:23:y:1986:i:2:p:105-117
    DOI: 10.1080/00420988620080101
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    References listed on IDEAS

    as
    1. Robson, Arthur J. & Scheffman, David T., 1979. "Urban structure, gas prices, and the demand for transportation," Journal of Urban Economics, Elsevier, vol. 6(2), pages 148-155, April.
    2. Kenneth A. Small, 1980. "Energy Scarcity and Urban Development Patterns," International Regional Science Review, , vol. 5(2), pages 97-117, August.
    3. Eugene F. Brigham, 1965. "The Determinants of Residential Land Values," Land Economics, University of Wisconsin Press, vol. 41(4), pages 325-334.
    4. Alan W. Evans, 1973. "The Economics of Residential Location," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-01889-5, December.
    5. Daly, George G & Mayor, Thomas H, 1983. "Reason and Rationality during Energy Crises," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 168-181, February.
    6. Small, Kenneth A., 1981. "A comment on gasoline prices and urban structure," Journal of Urban Economics, Elsevier, vol. 10(3), pages 311-322, November.
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