THE EFFECT OF FLOODPLAIN DESIGNATION/REGULATIONS ON RESIDENTIAL PROPERTY VALUES: A CASE STUDY IN NORTH YORK, ONTARIO

Abstract

This study investigates the effect of floodplain designation and regulations on residential property values in an established residential neighbourhood on the Don River in North York, Ontario. This area was designated under the National Flood Damage Reduction Program in 1982, and adopted as a Special Policy Area (SPA) in 1984. Various forms of a hedonic regression price model are utilized to identify the influence of designation/regulations on selling price. The model employs individual property attribute data, available through the Multiple Listing Service. The results are mixed and highly dependent on the specific analytical model.