Eres : Digital Library : Works

Paper eres2000_040:
STANDARDISED PRICE INDICES FOR THE REGIONAL HOUSING MARKET

id eres2000_040
authors Francke, Marc K.; Gerjan A. Vos, Jos E. Janssen
year 2000
title STANDARDISED PRICE INDICES FOR THE REGIONAL HOUSING MARKET
source 7th European Real Estate Society Conference (14-16 June 2000) Bordeaux, France
summary The correct measurement of house price movements over time on a regional level and for small market segments, with relatively few transactions, is considered. The research is based on data of housing market transactions in the Amsterdam Region over the period 1985-1999. In response to the ‘constant quality’ price index problem two main methodologies for index construction have been adopted: a Fixed-sample approach and a Hedonic approach. In the hedonic price model a Hierarchical Trend Model is used for estimation. A Kalman filter could be applied to estimate models of this kind. Price index series, of the Hedonic type and the Fixed-sample type, are presented for the region as a whole as well as per segment and house type within the region. The analysis shows that, over the period studied here, the Hedonic index numbers are superior to the Fixed-sample index numbers, being less sensitive to small market segments and small housing categories.
series ERES:conference
email FranckeM@gba.amsterdam.nl
discussion No discussions. Post discussion ...
ratings
session C5 _ Housing Sub_markets Pricing
last changed 2009/08/07 17:25
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