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A platform for research: civil engineering, architecture and urbanism
The effects of enterprise zones on local property markets
Erickson R. A. and Syms P. M. (1986) The effects of enterprise zones on local property markets, Reg. Studies 20, 1–14. The local property market is a principal mechanism through which the effects of the enterprise zone and programme are distributed. Different responses by businesses and developers generate a complex set of possible outcomes. In addition, the boundary problem emerges as a ‘dual local property market’. Based on different combinations of demand for and supply of property in the zone, four scenarios of possible effects are identified. Data from the Salford-Trafford Park zones in Greater Manchester are analysed in an assessment of a low response scenario. The empirical results indicate that zone designation created a dual property market with distinctly different short-run effects in the zone and the periphery; industrial building rents in the zone increased significantly while rents in the periphery dropped. Landlords with holdings in the zone expropriated over 60% of the local rates exemption through higher rents. The scenarios approach could assist in predicting certain outcomes of major policy decisions.
The effects of enterprise zones on local property markets
Erickson R. A. and Syms P. M. (1986) The effects of enterprise zones on local property markets, Reg. Studies 20, 1–14. The local property market is a principal mechanism through which the effects of the enterprise zone and programme are distributed. Different responses by businesses and developers generate a complex set of possible outcomes. In addition, the boundary problem emerges as a ‘dual local property market’. Based on different combinations of demand for and supply of property in the zone, four scenarios of possible effects are identified. Data from the Salford-Trafford Park zones in Greater Manchester are analysed in an assessment of a low response scenario. The empirical results indicate that zone designation created a dual property market with distinctly different short-run effects in the zone and the periphery; industrial building rents in the zone increased significantly while rents in the periphery dropped. Landlords with holdings in the zone expropriated over 60% of the local rates exemption through higher rents. The scenarios approach could assist in predicting certain outcomes of major policy decisions.
The effects of enterprise zones on local property markets
Erickson, Rodney A. (author) / Syms, Paul M. (author)
Regional Studies ; 20 ; 1-14
1986-02-01
14 pages
Article (Journal)
Electronic Resource
Unknown
Enterprise zone , Property market , Capitalization , Rental prices , Boundary effects , Scenarios , Zone à développer industrialo-commercial , Marché immobilier , Capitalisation , Les rentes fonciêres , Effets de limites , Scénarios , Unternehmerzone , Immobilienmarkt , Kapitalisierung , Pachtzinsen , Grenzeffekte , Zukunftssituationen
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