Urban consolidation and house prices: a case study of Melbourne 1990–2004
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This paper explores the links between a strategic policy, urban consolidation, and house prices by examining the changes in the mix of housing and in house price for the period 1991–2004. We contend that urban consolidation could be seen as a source of additional supply, (which might be expected to be felt in lower prices and so contribute to a local policy objective) but also as a stimulus to demand (by developers who could bid up the price of lots where it was understood more housing could be built). Analyses were carried out at the metropolitan and sub-regional scales using correlation tests. The research finds very weak statistical connections, and concludes that this policy has not been associated with price changes.
KeywordsUrban consolidation House price Spatial distribution, Melbourne
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