This research investigates the complexity of rural housing markets and the impact of rural amenities on rural house prices.
- The growth in price within rural markets is on average higher than for urban markets and particularly during the recent downturn, rural house prices have held their values better than urban house prices.
- The differences in the price of rural and urban property can largely be explained by the balance of availability of different types of property.
- There was some evidence that there is a small rural premium unexplained by differences in house type mix.
- Some amenities such as large plots and extra bedrooms are valued more highly in urban markets; others such as pre 1914 character housing, condition and outbuildings housing are more valued in rural markets.
- Modelling urban and rural properties as separate markets gave significantly better understanding of the sources of the problem than when they are analysed together. Models with rural premium dummy also performed well.
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Towards a Better Understanding of Urban Green Infrastructure›
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