IMPACT OF THE CONSTRUCTION OF A NEW YOUTH JUSTICE CENTRE ON SORROUNDING PROPERTY PRICES

Document Content and Description Below

The environment surrounding a property is an integral part in its value. In most of the cases the construction of a functional institution such as a mental hospital or hospital has a negative effect o... n the surrounding properties. However, there are no definitive findings when properties surrounding existing facilities have been analysed. The facilities needed by the public but which are unwanted has been an existing problem. With increase in the amount of incarcerated people including the youth, the demand for construction of such facilities has increased (ABC News, 2019). This means there are more properties finding themselves near the centres. Facilities such as youth justice centres have experienced incidents of vandalism and violence which has an impact on the potential purchase decisions as well as the prices of the existing property prices. Understanding how prices impact existing properties in terms of prices is crucial as it can create a proper understanding and end or confirm some of the existing misconceptions. In this study, data will be collected and analysed to determine the impact of the construction of a new youth justice centre near Cherry creek on the surrounding property prices [Show More]

Last updated: 1 year ago

Preview 1 out of 9 pages