The influence of crime statistics on house values and purchase decisions in London

Chu, Mya (2010) The influence of crime statistics on house values and purchase decisions in London. BSc dissertation, University of Portsmouth.

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    Abstract

    The issue of crime has always been a concern and despite crime rate in England and Wales steadily decreasing, the public perceive it as increasing (British Crime Survey 2008/2009). There are many possible reasons for this, but in London in particular, there have been an increase in media on violent crime. London has high house prices and with the issue of crime also in the City, the question arises as to why people would want to spend a large amount of money for a property in an area of high crime. The paper included emphasis on blights that were able to reduce house prices of an area and also other research that has shown that crime rate was able to do the same. It also highlighted the government and Police’s attempts on tackling crime. By conducting research on residents, it would show how important the crime rate of an area was to them and what their important factors were in the decision process. As a result, 98% of respondents chose the actual property as their primary focus. 63% of respondents stated that they would consider the crime rate of an area in their next purchase decision, but the main issue that was apparent was that 72% were not aware that they lived in a high crime area and therefore were misled by statistics. Results also showed that respondents were willing to ignore the issue of high crime in their area if their immediate neighbourhood felt safe. If future developments considered that buyers wanted to live in a safe neighbourhood then it would not be difficult to sell properties in high crime areas. Also, if crime statistics were more accurate (in particular the Metropolitan Police’s crime mapping website) then people would be aware of the crime rate in their area.

    Item Type: Dissertation
    Departments/Research Groups: ?? EDAM ??
    Depositing User: Jane Polwin
    Date Deposited: 20 Jan 2011 12:49
    Last Modified: 28 Jan 2015 11:16
    URI: http://eprints.port.ac.uk/id/eprint/1033

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