URBAN PLANNING TRANSPORT AND ECONOMICS
Intelligent consulting for a positive future.
LUTI is an Australian based Land, Transport, and urban systems focused consultancy, who have developed and implemented policy and technical frameworks for both the private and public sectors across Australia and internationally. The LUTI team has applied spatial, econometric and statistical methods to analyse and solve technical and policy problems in a number of the world’s urban regions, and this broad international experience enables us to bring this experience to our client’s projects.
Transit and Urban Renewal Value Creation
Hedonic Price Modelling Assessment of Sydney’s Key Transit and Transit-Oriented Urban Renewal Investments (2000–2019)
LUTI Consulting have undertaken a comprehensive update to their integrated land use and transport assessment of Sydney’s key transit and transit-oriented urban renewal investments from 2000 to 2019.
The update to the LUTI value creation study includes significant updates to the parameters and model structure presented in the original report released five years ago. It is the biggest land market study ever undertaken for Australia’s largest city and builds on the team’s experience in urban economics and developing willingness to pay models in other cities across Australasia (Perth, South East Queensland, Auckland and Hobart).
LUTI Consulting have made the updated analysis a free downloadable report that provides the public and private sectors an updated view of the evidence base demonstrating how Sydney’s urban land markets have valued government investments in transport infrastructure and decisions around land use and Floor Space Ratio (FSR) allocations, in addition to presenting how they can be applied for economic and financial modelling in future projects. This analysis also supports the renewed interest in the sharing of the value created by government investment in urban infrastructure.
The 2020 update to LUTI Consulting’s hedonic price model for Metropolitan Sydney features the addition of more recent land valuations data up to 2019 and several methodological enhancements. Key enhancements include:
- Controls for park-and-ride at passenger heavy rail stations;
- AM peak passenger heavy rail services;
- Proximity to passenger heavy rail corridors that permit the transport of rail freight;
- The interaction between strata development and FSR; and
- The impact of the Sydney Kingsford Smith Airport aircraft noise.
The land value impacts modelled in this study are critical in assisting public policy maker development of value-sharing strategies that seek to share in the value created by government investments in transport infrastructure to assist in defraying project costs.
This information can also be used in the appraisal of urban renewal benefits and development of integrated transit and land use corridor strategies to ensure maximum utilisation of transport infrastructure investments to help Australian cities grow more sustainably.