Traffic Noise and Housing Values

Noise is one of the most serious forms of pollution and one of the main causes of the deterioration of the quality of life in urban areas. This paper analyzes the effects of traffic noise on house prices in the historic center of Ferrara. The analysis was done by analyzing the distribution of house prices and noise pollution, using multiple regression. This study also demonstrates that the discomfort produced by noise is highly variable and that it increases more than proportionally to the noise produced. There is however a clear and significant negative relationship between the discomfort produced by noise and housing values. Average housing devaluation is 1,900 ITL per percentage point of people disturbed by noise per square meter of surface area. Noise pollution, therefore, clearly affects property values, which in turn legitimizes the recent protective norms for urban environment.