Which of the following factors has the least influence on real estate values?

The reasoning behind choosing the style of architecture as having the least influence on real estate values relates to the broader impact of the other factors mentioned. While the style of a building can affect its appeal and desirability, it often has a more subjective and less consistent effect on value compared to the other factors.

Location is paramount in real estate, as it often dictates not just accessibility but also the desirability of an area based on amenities, schools, and economic opportunities. Political regulations, such as zoning laws and property taxes, play a significant role in shaping the market, affecting what can be built and how properties can be utilized. The distance from public transport also carries substantial weight because easy access to transit can enhance a property's attractiveness to potential buyers, particularly in urban areas where commuting is a significant concern.

In contrast, while architectural style may contribute to a property’s aesthetic and marketability, it does not typically drive value to the same extent as location, regulatory factors, or transport accessibility. Therefore, in the context of determining influence on real estate values, architecture is considered less critical compared to these other factors.