Can Value Capture work in a car dependent city? Willingness to pay for transit access in Perth, Western Australia
MetadataShow full item record
This paper investigates the impact of transit on urban land markets in the highly car dependent corridors of Perth with a focus on where new fast rail transit services have recently been built. It determines people’s willingness to pay for transit access within different pedestrian catchments for each of the corridors based on hedonic price modelling using land value data on over 460,000 households. The case study uses cross sectional and panel data hedonic price modelling methodology for the calculation of willingness to pay for transit. It finds that land market increases of up to 40% can be achieved, and is particularly relevant to car dependent cities looking to capture the financial and economic value created to build transit extensions or entirely new systems, thus making a strong case for value capture funding of transit projects into car dependent suburbs and the potential for density increases near stations.
Showing items related by title, author, creator and subject.
McIntosh, James; Newman, Peter; Trubka, Roman; Kenworthy, Jeffrey (2017)Many car-dependent cities have major transit projects stuck in financial and economic assessment due to inadequate links between land use, transport, and funding. This has left most urban transport networks underfunded ...
McIntosh, J.; Newman, P.; Trubka, R.; Kenworthy, Jeffrey (2017)Many car-dependent cities have major transit projects stuck in financial and economic assessment due to inadequate links between land use, transport, and funding. This has left most urban transport networks underfunded ...
Barrett, G.; Cigdem, M.; Whelan, S.; Wood, Gavin (2015)Home ownership represents an important social and economic cornerstone of Australian society. In addition to providing security of tenure, ownership has represented an important savings vehicle by which Australians can ...