A New Model for Constructing Price Indices Using the Repeat Sales Approach
||Thion, Bernard; Riva, Fabrice; Chameeva Tatiana
||A New Model for Constructing Price Indices Using the Repeat Sales Approach
||11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
||Analysing the existing unbiased estimators for house price indices in the framework of the repeat sales approach, we discuss the necessity to improve the technique revealing its weak points. We present a new methodology based on the application of a final compound return (FCR). The proposed methodology is simpler and has an advantage of gradual continuity in building up a price estimator year after year. The comparison of results obtained for the real database sample for Bordeaux region in France proves the validity of the FCR and is consistent with all previous results.
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||House Price Analysis (B)
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