Modelling the effect of airport noise on residential property values: an examination of the Manchester Airport second runway Available to Purchase

The management of large‐scale facilities such as airports requires a wide knowledge of potential problems that can arise as a result of strategic decisions. These decisions are often made many years before they come to fruition. The paper focuses on the potential compensation problems surrounding the construction of a new runway with particular reference to Manchester Airport; and examines the methods of practice and theory which may be adopted in the valuation of residential property affected by physical factors arising from the construction of a new installation.