Abstract
This study uses the hedonic price method to examine the relationship between the sale price of single-family residential properties in an urban watershed in Portland, Oregon and (1) the amount of riparian vegetation and upland wildlife habitat on a property, and (2) the amount and quality of riparian corridors within ½ mile of a property. Streams on a property are found to increase a property’s sale price while streams in the surrounding neighborhood have a negative effect. While increasing the overall percentage of riparian corridors and upland wildlife habitat is found to have a positive but declining effect on sale price, a more detailed analysis concludes that the effect depends on the type and quality of resources. The quality and quantity of riparian corridors within ½ mile of properties is being capitalized into the sale price of properties suggesting that restoration efforts will generate benefits to property owners in the study area.
Comments
Abstracts of presentations given on Tuesday, 12 July 2005 in session 8 of the UCOWR conference.