In a short article in Geografie, we performed a hedonic pricing analysis of houses in Overvecht and Voordorp, two neighbourhoods in Utrecht. This page accompanies the article and gives both a non-econometric summary and the full table of results.
Table 1: Summary of results
| variabele | huizenprijs | prijs per m² |
| oppervlakte (m²) | ++ | – |
| perceelopp. (m²) | ++ | + |
| jaren ’70* | 0 | + |
| jaren ’80* | + | + |
| jaren ’90* | ++ | ++ |
| Voordorp | ++ | ++ |
| 3 kamers# | 0 | – |
| 4 kamers# | 0 | – |
| 5+ kamers# | — | — |
| gelijkvloers | 0 | – |
| lift | 0 | 0 |
| appartement | 0 | — |
| energielabel A/B | + | + |
| “onderhoud nodig” | 0 | 0 |
| “eenvoudig” | 0 | 0 |
| “luxueus” | + | + |
| afstanden tot… | ||
| centrum: 5 min. | + | ++ |
| centrum: 10 min. | 0 | 0 |
| centrum: 15 min. | 0 | 0 |
| centrum: werkelijk | 0 | 0 |
| trein: 5 min. | 0 | 0 |
| trein: 10-15 min. | 0 | 0 |
| trein: werkelijk | – | 0 |
| winkels: 5 min. | 0 | 0 |
| winkels: 10-15 min. | 0 | 0 |
| winkels: werkelijk | 0 | 0 |
| *: t.o.v. een huis van vóór 1970 #: t.o.v. 1 of 2 kamers |
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Table 2: full results (beta coefficients)
| (1) | (2) | |||
| price | mprice | |||
| opp | 0.482*** | (12.46) | -0.360*** | (-6.40) |
| plot | 0.397*** | (10.61) | 0.404*** | (7.40) |
| 196.decade | 0.000 | (.) | 0.000 | (.) |
| 197.decade | 0.022 | (0.96) | 0.068* | (2.00) |
| 198.decade | 0.070* | (2.12) | 0.126** | (2.62) |
| 1990.decade | 0.280*** | (7.90) | 0.508*** | (9.83) |
| 1.rrooms | 0.000 | (.) | 0.000 | (.) |
| 3.rrooms | -0.076 | (-1.74) | -0.153* | (-2.39) |
| 4.rrooms | -0.106* | (-2.29) | -0.190** | (-2.80) |
| 5.rrooms | -0.198*** | (-3.52) | -0.283*** | (-3.45) |
| floor | -0.035 | (-1.37) | -0.088* | (-2.41) |
| elev | -0.014 | (-0.60) | -0.009 | (-0.27) |
| app | -0.068 | (-1.51) | -0.239*** | (-3.63) |
| enAB | 0.079*** | (3.42) | 0.073* | (2.16) |
| maint | -0.014 | (-0.62) | -0.014 | (-0.45) |
| simple | -0.022 | (-0.97) | -0.055 | (-1.67) |
| lux | 0.059** | (2.65) | 0.100** | (3.11) |
| cent5 | 0.054** | (2.62) | 0.081** | (2.67) |
| cent10 | 0.022 | (0.95) | 0.019 | (0.58) |
| cent15 | -0.021 | (-0.98) | -0.038 | (-1.21) |
| centreal | -0.009 | (-0.20) | -0.035 | (-0.55) |
| train5 | -0.016 | (-0.55) | -0.031 | (-0.71) |
| trainfar | -0.028 | (-1.19) | -0.037 | (-1.05) |
| trainreal | -0.109* | (-2.29) | -0.135 | (-1.93) |
| shop5 | 0.037 | (1.24) | 0.037 | (0.85) |
| shopfar | 0.042 | (1.57) | 0.042 | (1.06) |
| shopreal | 0.011 | (0.35) | 0.013 | (0.31) |
| voordorp | 0.131** | (3.16) | 0.178** | (2.94) |
| N | 305 | 305 | ||
| adj. R2 | 0.887 | 0.761 |
Table 3: Descriptives
Variable | Obs Mean Std. Dev. Min Max -------------+-------------------------------------------------------- price | 305 180840.5 65817.54 94000 574500 opp | 305 91.24918 21.90553 48 191 plot | 305 36.40984 68.34302 0 437 rrooms | 305 3.629508 1.059317 1 5 floor | 305 .8393443 1.074721 0 6 -------------+-------------------------------------------------------- elev | 305 .9180328 .2747656 0 1 app | 305 .6983607 .4597238 0 1 det | 305 0 0 0 0 sdet | 305 .0163934 .1271917 0 1 terr | 305 .252459 .4351371 0 1 -------------+-------------------------------------------------------- corner | 305 .0590164 .2360427 0 1 energy | 0 maint | 305 .0688525 .2536192 0 1 simple | 305 .1836066 .3877993 0 1 lux | 305 .2229508 .4169096 0 1 -------------+-------------------------------------------------------- voordorp | 305 .2360656 .4253608 0 1
Variable | Obs Mean Std. Dev. Min Max -------------+-------------------------------------------------------- cent5 | 305 .0393443 .1947322 0 1 cent10 | 305 .3245902 .468991 0 1 cent15 | 305 .1147541 .3192487 0 1 centreal | 305 3257.377 883.8945 1700 5800 train5 | 305 .2885246 .4538209 0 1 -------------+-------------------------------------------------------- train10 | 305 .1114754 .3152372 0 1 train15 | 305 .0065574 .0808443 0 1 trainreal | 305 2054.754 997.4566 100 4700 shop5 | 305 .5704918 .4958195 0 1 shop10 | 305 .0852459 .2797062 0 1 -------------+-------------------------------------------------------- shop15 | 305 .0557377 .2297915 0 1 shopreal | 305 635.8033 334.1349 100 1500