An exploratory analysis of bus rapid transit on property values: a case study of Brisbane’s South East Busway

Drawing on the South East Busway (SEB) in Brisbane, Queensland, a full-featured bus rapid transit (BRT) network in Australia as a case study, this paper explores the impact of BRT on residential property values and how this varies spatially. Using Hedonic Price Models (HPM), we detected a negative impact of proximity to SEB stations on housing price within a 2.4-kilometre buffer of SEB corridor. On average, housing price decreases by AUD$1,133 with every 100-metre increase closer to a station. Consequently, properties located within 1200-metre radius of SEB stations could get up to AUD$30,180 lower in price compared to other properties. Furthermore, a segmented regression method was used to assess the combined effects of improved accessibility to SEB stations and proximity-related effects to the SEB corridor on property values. The model results reveal a more complex picture describing the spatial change of the impact of SEB on housing prices: a positive effect of access to SEB stations but a more substantial negative effect of immediate proximity to SEB corridor. The strong association between the distance to the SEB corridor and housing prices may suggest the proximity-related negative externalities of BRT, perceived as a main disadvantage of tyre-based transit. We argue that location characteristics of SEB as well as adjacency to a highway might have contributed to the negative proximity-effects and limit its ability to uplift property values.

Language

  • English

Media Info

  • Pagination: 13p
  • Monograph Title: State of Australian cites national conference 2015, 9-11 December, Gold Coast, Queensland: SOAC conference proceedings

Subject/Index Terms

Filing Info

  • Accession Number: 01599148
  • Record Type: Publication
  • Source Agency: ARRB
  • ISBN: 9781925455038
  • Files: ITRD, ATRI
  • Created Date: May 18 2016 3:59PM