Repeat Sales and Urban Price Indices: A New Approach
||Thion, Bernard; Tatiana Chameeva and Fabrice Riva
||Repeat Sales and Urban Price Indices: A New Approach
||Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
||In the framework of the standard repeat-sales model to estimate house price indices, we present a new methodology based on the application of a final compound return (FCR) that is constrained to prevent revisions of past values of the index. The proposed technique, being straightforward, has a strong advantage of a gradual construction of a price estimator year after year. The results obtained for the database sample for Bordeaux region in France demonstrate the validity of the FCR method and are coherent with the estimators calculated by means of well-known techniques within the repeat sales approach.
Post discussion ...
These pages are best viewed with any standards compliant browser (e.g. Mozilla).