ABSTRACT Houses with desired aesthetic views have a price premium over similar houses without such views. This article raises the following questions in relation to view as a location-specific amenity: How can we calculate a reliable indicator for view using available information? Are dwellings with a view sold for a premium compared to otherwise similar properties? Using more than 5,000 house transactions in the Illawarra region in Australia, and applying hedonic price method, the study analyses the price effects of key aesthetic views. Due to unavailability of view as a housing characteristic within historical records, spatial analysis tools were used to estimate views for housing locations. The results confirm the significance of aesthetic views in explaining house prices. Beach view is the most important aesthetic view. An increase of 1% of beach view drives house prices up by nearly 2–3%. Significant positive contributions to prices are also evident from sea, conservation area and inland water views. In addition to the views, other location-specific attributes also influence house prices. Methods developed in this study to quantify the value of aesthetic views and location-specific characteristics associated with residential locations form an important contribution to urban planning and policy development.

中文翻译：

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视图的价格：估计视图对房价的影响

摘要具有理想美学视野的房屋比没有这种视野的同类房屋具有更高的价格。本文针对与视图相关的特定位置便利性提出了以下问题：我们如何使用可用信息为视图计算可靠的指标？与其他类似物业相比，有景观的房屋是否要溢价出售？该研究使用了澳大利亚伊拉瓦拉地区的5,000多次房屋交易，并采用享乐价格法，分析了主要美学观点的价格效应。由于在历史记录中无法获得作为房屋特征的视图，因此使用了空间分析工具来估算房屋位置的视图。结果证实了审美观点在解释房价方面的重要性。海滩风景是最重要的审美观。海滩景观的1％增长使房价上涨了近2-3％。从海洋，自然保护区和内陆水域的观点来看，价格的积极贡献也很明显。除了视图之外，其他特定于位置的属性也会影响房价。本研究中开发的用于量化美学观点和与住宅位置相关的特定位置特征的价值的方法，对城市规划和政策制定做出了重要贡献。