Some notes on parametric significance tests for geographically weighted regression

Article Abstract:

Spatial 'drift' in linear model coefficients is modeled using a geographically weighted regression (GWR) method. An extended GWR model is developed by introducing analytically obtained significance tests that permit a null hypothesis of no spatial parameter drift to be analyzed; by discussing 'mixed' GWR models in which some parameters are fixed globally but others differ geographically; and by considering a way of determining the degree of parameter smoothing employed in GWR based on the Mallows Cp statistic. By applying these approaches, data on house prices in Kent in UK are examined.

Usage, Housing, Dwellings, Regression analysis, Statistical hypothesis testing

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Traffic externalities and single-family house prices

Article Abstract:

The effect of the traffic level on single-family housing prices is investigated using data sets from two locations in a medium-sized city. Results show that the traffic level is inversely related to house prices and that every car unit added to high traffic streets produce a substantially negative effect on prices. The implication is that the real estate industry takes into account externalities such as traffic levels in their pricing system for residential property.

Real estate agents and managers, Management, Economic aspects, Real estate industry, Valuation, Real property, Real estate appraisal, Single family housing, Traffic flow, Housing, Single family

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Residential development, risk, and land prices

Article Abstract:

Residential development dynamics revealed that primary consumers are exposed to higher risk associated with neighborhood uncertainty compared to subsequent consumers. Because of exposure to higher risk, primary consumers are more often offered lower land prices by residential developers in an effort to offset the first-mover disadvantage. Prices of land tend to increase in the long run in relation to the market.

Research, Analysis, Housing development, Planned communities

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