![]() The hedonic regression analysis is conducted in two steps. Hedonic Regression Analysis (adapted from Boardman et al, 2001, 349-352) It may be found that a 1km movement away from the open cast site equates to an increase of £5,000 on a house price. The regression analysis can also be used to provide a value for the size of the relative impact. If, for example, through regression analyses increased distance from an open cast mining site is found to be correlated with increased house prices, it can be ascertained that the open cast site is having a negative impact on house prices. The hedonic price method is used to measure the relative importance – through use of regression analyses – of these independent ‘explanatory’ variables on house and property prices.
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