THE NONPRICED BENEFITS OF RENOVATING HISTORIC BUILDINGS - A CASE-STUDY OF NEWCASTLE GRAINGER TOWN

This paper uses the contingent valuation method to investigate public preferences for the renovation of historic buildings in the Grainger T own area of Newcastle upon Tyne. Members of the general public were as ked how much they would be willing to pay, in extra council taxes, tow ards the renovation and restoration of these buildings, and how they w ould wish this money to be allocated across different areas of the tow n. The results of the study demonstrated that local people had a stron g preference for renewing historic areas and that, in general, they pr eferred to contribute towards the improvement of the most degraded are as. Copyright (C) 1996 Elsevier Science Ltd.