Locational factors and the urban fringe land market

The rural-urban fringe land market is a complex interaction of behavioral, institutional and locational economic factors. These factors are analysed in relation to transactional sales prices for undeveloped fringe land. The resultant models estimate the role of several of these factors in the demand for fringe land. Parcel size, access to peripheral urban centers, zoning, land use and the interactions of location and specific land uses are the primary determinants of the transactional sale prices. Understanding the composition of the demand function within the fringe land market context will assist in comprehending the complexity of the fringe land market and the land conversion process.