Hedonic Price Modeling of the Saskatoon Housing Market with Particular Emphasis on Inner-city Neighborhoods, 1980-1983
Date
1984
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
ORCID
Type
Degree Level
Masters
Abstract
The primary focus of this research was directed towards the identification
of the important determinants of housing quality and the evaluation of their effects upon single-family house prices in Saskatoon
during the period 1980-8). Housing values were explained using information
on the physical characteristics of the house and of the site, and
on some features of the neighborhood in which the house is located.
A specific objective of the analysis was to determine if separate spatial
submarkets exist as defined by housing location in the five inner-city
neighborhoods and location in the older and newer suburbs of the city.
The study has shown that housing market values vary systematically
with respect to differentials in most. of the housing and neighborhood.
characteristics included in the multiple regression model. regression
coefficients Here generally consistent with a priori expectations and
high levels of statistical explanation approaching .80 were achieved.
Results of submarket testing shoved a marked variation in the strength
of association be-tween variables and house price between the two areas
of Saskatoon. It was determined that division of the single-family
housing market into core and non-core neighborhoods did produce separate
submarkets with statistically significant independent price structures
and also resulted in an improvement in the level of explanation over
the stratified model.
.
Other results included the finding that considerably more variation
in house price was explained in suburban areas compared to the innercity
neighborhoods (approximately 14% more). A ratio of house and
neighborhood. parameters revealed that neighborhood traits are very prominent
determinants of housing value as they explain between 32% (for
non-core neighborhoods) and 60% (for core neighborhoods) of the standardized
variation in house price. Sizeable differentials were found to
exist among the five inner-city neighborhoods in terms of average over-all
house price, volume of homes that Here offered for sale, and net
price change that. occurred over the period of study. Classification of
residuals illustrated how the inner-city neighborhoods were also differentiated with respect to both the general accuracy of the regression
model as a predicater of house price, and with respect to the predominate
direction of significant residuals.
Description
Keywords
Citation
Degree
Master of Arts (M.A.)
Department
Geography and Planning
Program
Geography and Planning