Below is the uncorrected machine-read text of this chapter, intended to provide our own search engines and external engines with highly rich, chapter-representative searchable text of each book. Because it is UNCORRECTED material, please consider the following text as a useful but insufficient proxy for the authoritative book pages.
Aviation noise has a direct effect on property value. The effects of aviation noise on the buyer and seller determine the value of properties within proximity to aircraft opera- tions. The noise level at a given property location becomes one of many property features and amenities (number of rooms, crime rate, schools) that make up the total value of that property. Research conducted on the effects of aviation noise on property value used several different methodologies result- ing in outcomes ranging from effects of substantial negative impact to effects of no impact. Most studies attempted to control for and measure the noise variable alone. However, some studies coupled aviation noise with airport proximity, and therefore measured the positive and negative impacts of two variables that essentially could not be present without the other (or that were dependent on each other). Recent studies used GIS not only to analyze large amounts of data, but also to integrate spatial autocorrelation to analyze the relationships among residential properties and other features in proximity; that is, other homes, airports, schools, roads, etc. Looking at future research, one can expect that the powerful GIS tool will facilitate a better understanding of this topic. In contrast to most results, a study conducted in the city of College Park, Georgia, concluded that noise did not signifi- cantly affect the values of residential properties (Lipscomb 2003). Unique community demographics and characteristics attributed to this finding; specifically, many community residents were employed in airport-related occupations so distance from the airport (short work commute) was given greater importance during the home purchasing process. Results from a survey of 200 realtors and 70 appraisers in 35 suburban communities near Chicago OâHare International Airport found that a significant segment of buyers lack adequate information about the noise environment, resulting in inflated bid prices and likely in disappointment after pur- chase (Frankel 1991). The author continued by classifying noise-affected property owners into two groups: those who came to their location when the location was quiet and later became the subject of aircraft noise and those who purchased the property near an operational airport from a previous 20 owner. The report stated that it was the members of the first group who bore the true burden of airport noise. If noise exposure decreases property value, one could reasonably presume the second group was compensated for the existing noise exposure once they willingly purchased properties that sold at a market-discounted price. This has led to the description of aircraft noise as a one-time effect on property value. A study conducted around Manchester Airport, England, showed that when using the Noise and Number Index (similar to DNL and no longer used), results revealed no significant negative relationship between noise and property value (Tomkins et al. 1998). Quite interesting, however, is their finding that when the Leq measure is substituted, and even though it defines a smaller core of properties, it also displays both a greater accuracy in identifying those âwhich are truly noise-blighted.â Proximity to the airport also had significant impacts, but at a decreasing rate. The net impact was that property location in close proximity to the airport was a more important factor of property value than noise. In summary, the studies of the effects of aviation noise on property values are highly complex owing to the differences in methodologies, airport/community environments, market conditions, and demand variables involved. Whereas most studies concluded that aviation noise effects on property value range from some negative impacts to significant negative im- pacts, some studies combined airport noise and proximity and concluded that the net effect on property value was positive. Prospective homebuyers were at times not well-informed about the noise levels of aircraft operations near the property of interest. Lack of information often led to high bid prices and possible disappointment after purchase. Homeowners that experienced an increase in noise levels bore the burden of aviation noise. However, once noise levels stabilized, the next homeowner was compensated once the property value adjusted owing to the effects of noise. Lastly, the technology available to analyze data has improved throughout the years. The spatial nature of aircraft operations, noise contours, and property location will continue to prompt studies founded in GIS analysis that will improve our understanding of the effects of aviation noise on property value. CHAPTER TEN AVIATION NOISE EFFECTS ON PROPERTY VALUES
