The relationship between open space & residential property values in the Cape Town metropolitan area

Thesis (MA)--Stellenbosch University 2018.

ENGLISH ABSTRACT: This study aims to determine and assess the relationship between open space and residential property value in the Cape Town Metropolitan area, based on access to open space. The relationships between different open space types and residential property are respectively determined. This is determined at global level using Ordinary Least Squares regression analysis and (more importantly) at local level using Geographically Weighted Regression. Analysis is performed with data aggregated to small area layer level. The main empirical findings indicate that the increase in percentage of recreational areas results in a minor negative effect on property value for the global model (although this is not statically significant). The increase in percentage of parks also results in a minor negative effect on property value. Finally, proximity to protected areas has a positive impact on property value in the global model. For the local model, substantial local variations are revealed, in terms of distribution of local coefficients, and how the distribution can be compared to other socio-economic factors.

AFRIKAANSE OPSOMMING: Die doel van hierdie studie is om die verwantskap tussen toegang tot oopruimte en residensiële eiendomswaarde in die Kaapstad Metropolitaanse gebied te bepaal en te evalueer. Die verhoudings tussen verskillende tipes oop ruimte en residensiële eiendomme word onderskeidelik bepaal. Dit word op globale vlak bepaal deur ‘Ordinary Least Squares’ regressieanalise asook op plaaslike vlak deur middel van ‘Geographically Weighted’ regressie. Die ruimtelike eenheid vir die analise is ‘Smaal Area Layer’ van die sensusdata. Die belangrikste empiriese bevindings dui daarop dat die toename in persentasie ontspanningsgebiede 'n geringe negatiewe invloed op eiendomswaarde vir die globale model tot gevolg het (alhoewel dit nie staties betekenisvol is nie). Die toename in persentasie parke lei ook tot 'n geringe negatiewe uitwerking op eiendomswaarde. Ten slotte het die nabyheid van beskermde gebiede 'n positiewe impak op eiendomswaarde in die globale model. Vir die plaaslike model word aansienlike plaaslike variasies geopenbaar, in terme van die verspreiding van plaaslike koëffisiënte, en hoe die verspreiding vergelyk kan word met ander sosio-ekonomiese faktore.

Masters