TY - JOUR
T1 - The demand for education
T2 - The impacts of good schools on property values in Brisbane, Australia
AU - Rajapaksa, Darshana
AU - Gono, Marcel
AU - Wilson, Clevo
AU - Managi, Shunsuke
AU - Lee, Boon
AU - Hoang, Viet Ngu
N1 - Publisher Copyright:
© 2020 Elsevier Ltd
Copyright:
Copyright 2020 Elsevier B.V., All rights reserved.
PY - 2020/9
Y1 - 2020/9
N2 - The demand for education is partly revealed by a higher demand for properties around good schools, which has been the basis for a number of empirical studies. This research attempts to explore the nexus of school quality and the property market when school ranking is clearly available to the public. The spatial hedonic property valuation method was employed to analyze selected Brisbane public (state) and private schools consisting of those with high, middle and low ranking in terms of average student academic school performance. The results imply the capitalization of school values in both property and rental prices. The research also demonstrates the spillover impacts of school development. Such impacts are higher in comparison to previous studies, which are supported by the average school performance considered in individual assessments. The results of this study can be a valuable input into school policy reforms. (JEL: H23, I20, I28, R21)
AB - The demand for education is partly revealed by a higher demand for properties around good schools, which has been the basis for a number of empirical studies. This research attempts to explore the nexus of school quality and the property market when school ranking is clearly available to the public. The spatial hedonic property valuation method was employed to analyze selected Brisbane public (state) and private schools consisting of those with high, middle and low ranking in terms of average student academic school performance. The results imply the capitalization of school values in both property and rental prices. The research also demonstrates the spillover impacts of school development. Such impacts are higher in comparison to previous studies, which are supported by the average school performance considered in individual assessments. The results of this study can be a valuable input into school policy reforms. (JEL: H23, I20, I28, R21)
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U2 - 10.1016/j.landusepol.2020.104748
DO - 10.1016/j.landusepol.2020.104748
M3 - Article
AN - SCOPUS:85086113358
SN - 0264-8377
VL - 97
JO - Land Use Policy
JF - Land Use Policy
M1 - 104748
ER -