The link between non-property crime and house prices – Evidence from UK street-level data

MPRA Paper from University Library of Munich, Germany

Abstract: This paper uses street-level data on house sales and crime rates for England and Wales to look at the existence of compensating differentials for crime risk. In terms of identification my strategy relies on the use of non-parametric regional time trends as well as various fixed effects to control for unobserved amenities and regional economic conditions. The results suggest that each additional case of anti-social behavior lowers house prices in the same street by approximately 1% and each additional case of violent crime by 2%. Drug crime does not appear to matter, as does crime outside of the respective street.

Keywords: cost of crime; compensating differential; house prices (search for similar items in EconPapers)
JEL-codes: H40 K00 K42 R21 R23 R31 (search for similar items in EconPapers)
Date: 2012-10-25
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44884

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