| Title |
Relationship between Aircraft Noise and Value Change of Properties |
| Keywords |
aircraft noise ; property price |
| Abstract |
This study aims to evaluate the price of properties near Sydney Kingsford airport that are severely affected by the aircraft noise. Consider two properties that are identical in all respects, except that one is located under the flight path of an airport and the other is not. Since the value of a residence is the sum of present discounted streams of benefits and costs derivable from it, observations on these present values should reveal that the first house sells for a lower price than the second house. From the results of the previous studies, the price of the properties under the flight path is approximately 5-6% lower than equivalent ones where the noise level is about 10 NEF lower. Although the price of property in areas subject to aircraft noise remain lower than equivalent properties in areas without noise, the mean property values continue to increase at comparable rates. |