Browsing by Author "Lo D"

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    House prices, airport location proximity, air traffic volume and the COVID-19 effect
    (Taylor and Francis Group on behalf of the Regional Studies Association, 2023-04-12) Ngo T; Squires G; McCord M; Lo D
    Although house prices and airports are influenced by distinct factors that shape their evolutions, they are also intrinsically connected through the natural and built environment. Standard theory suggests that air-traffic noise and proximity to key economic hubs such as airports are of prime importance to house prices and the housing market. This study contributes to understanding the link between the housing market, airport location proximity and air traffic. The research investigates this association across four key urban areas within New Zealand proximal to an international airport: Auckland, Wellington, Christchurch and Queenstown. Applying a generalized least squares (GLS) regression approach, the analysis reveals that house prices, air-traffic activity and proximity to airports within New Zealand demonstrate a statistically significant effect, and that air traffic volume has a positive effect on house prices. Moreover, the findings reveal a ‘U’-shape relationship between distance to the airport and house prices, suggesting that airport noise and pollution adversely affect house prices, with this effect diminishing with distance, indicating that economic influences and employment may also serve as a positive externality.
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    The spatial effect of airport proximity on house prices: a quantile regression analysis for the New Zealand market
    (Taylor and Francis Group, 2025-08-19) Squires G; Ngo T; McCord MJ; Lo D; Wang X
    This study contributes to understanding the link between the housing market and airport location proximity, whilst examining the entirety of the house price distribution. The research investigates this association across four key urban areas within New Zealand proximal to an international airport–Auckland, Wellington, Christchurch, and Queenstown. Applying hedonic and quantile regression, the analysis reveals that proximity to airports on house prices has a heterogeneous pricing effect. Results show that distance comprises a positive pricing effect within Auckland and Christchurch, whereas in Wellington and Queenstown the pricing effect is negative. The quantile regression findings further revealed differences between lower and higher priced properties value, given distance and proximity to airports within each city region. The Christchurch region reveals contrasting findings, showing there to be a higher positive pricing effect for higher-priced housing, which gradually decreases when moving down the quantiles. It is argued that this higher positive pricing for higher priced properties is due to particularities in the housing market close to Christchurch Airport.