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Construction And Application Of Property Price Indices
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Book Synopsis Construction and Application of Property Price Indices by : Anthony Owusu-Ansah
Download or read book Construction and Application of Property Price Indices written by Anthony Owusu-Ansah and published by Routledge. This book was released on 2018-07-11 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised. House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle. Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices. This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe. It shows how the raw data of property transactions can be prepared for the purpose of constructing indices, discusses various applications of property price indices and empirically demonstrates how the index numbers can be used to model the supply of new houses and to estimate the price elasticity of supply. Essential reading for economists, real estate professionals and researchers, and policy-makers.
Author :Thomas G. Thibodeau Publisher :Springer Science & Business Media ISBN 13 :9780792398837 Total Pages :266 pages Book Rating :4.3/5 (988 download)
Book Synopsis House Price Indices by : Thomas G. Thibodeau
Download or read book House Price Indices written by Thomas G. Thibodeau and published by Springer Science & Business Media. This book was released on 1997-03-31 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a special issue of the Journal of Real Estate Finance and Economics, comprising thirteen articles on house price measurement. These articles address the various procedures used to compute cross-sectional or temporal house price indices. Specifically, these articles contain research that: (1) evaluates hedonic, repeat sales, or hybrid approaches to constructing house price indices; (2) evaluates alternative sources of data on house prices and corresponding housing characteristics; (3) identifies the most influential land, structural, neighborhood, and proximity determinants of house prices (and associated changes in house prices); (4) provides a methodology for identifying housing market segments; (5) incorporates spatial autocorrelation in house price indices; and (6) provides more accurate estimates of the variance in house prices.
Book Synopsis Spon's Construction Cost and Price Indices Handbook by : M C Fleming
Download or read book Spon's Construction Cost and Price Indices Handbook written by M C Fleming and published by Routledge. This book was released on 1991-02-21 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique handbook collects together a comprehensive and up-to-date range of indices measuring construction costs and price movements. The authors give guidance on the use of the data making this an essential aid to accurate estimating, as well as examples of how the costs were compiled.
Book Synopsis Handbook on Residential Property Price Indices by : OECD
Download or read book Handbook on Residential Property Price Indices written by OECD and published by OECD Publishing. This book was released on 2013-04-22 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides, for the first time, comprehensive guidelines for the compilation of Residential Property Price Indexes and explains in depth the methods and best practices used to calculate an RPPI.
Book Synopsis Spon's Construction Cost and Price Indices Handbook by : M C Fleming
Download or read book Spon's Construction Cost and Price Indices Handbook written by M C Fleming and published by CRC Press. This book was released on 1991-02-21 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique handbook collects together a comprehensive and up-to-date range of indices measuring construction costs and price movements. The authors give guidance on the use of the data making this an essential aid to accurate estimating.
Book Synopsis Property Price Index by : W. Erwin Diewert
Download or read book Property Price Index written by W. Erwin Diewert and published by Springer. This book was released on 2020-01-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book answers the question of how exactly property price indexes should be constructed. The formation and collapse of property bubbles has had a profound impact on the economic administration of many nations. The property price bubble that began around the mid-1980s in Japan has been called the 20th century's biggest bubble. In its aftermath, the country faced a period of long-term economic stagnation dubbed the "lost decade." Sweden and the United States have also faced collapses of property bubbles in the 20th and early 21st centuries, respectively. It has been pointed out that the "information gap" that existed between policy-making authorities and the property (including housing) and financial markets was a problem. In 2009, the IMF proposed the creation of a housing price index to the G20 in order to fill this information gap, and the proposal was adopted. Furthermore, in 2011, it was suggested that the next economic crisis would be caused by a bubble in commercial property prices, and it was decided to create a commercial property index as well. This book provides practical examples of how the theory of property price indexes can be applied to the issues of property as a non-homogenous good and a technological and environmental change.
Book Synopsis Index Construction Methodologies and Their Implications on Real Estate Prices by : Lukas Ebner
Download or read book Index Construction Methodologies and Their Implications on Real Estate Prices written by Lukas Ebner and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis assesses the feasibility of developing a reliable real estate price index using unprecedented transaction-based data on Swiss investment real estate for the period between 1940 and 2017. Multiple different methodological approaches are employed and scrutinised to assess their suitability for the computation of hedonic property price indices. Despite the broad availability and the extensive research on real estate indices, most benchmarks lack transparency as they are deficient in a detailed definition and description of the underlying construction methodology. As such, acclaimed price indices may show significantly diverging price dynamics arising - inter alia - from varying methodical approaches. This thesis establishes an extensive number of property indices and subsequently compares results with the most widely-known indices in the Swiss real estate environment. A secondary objective of this thesis is the integration of macroeconomic data to observe possible co-movements in price dynamics and to assess their contribution to the established property price index. By means of a principal component analysis, I compute an index that correctly captures the relative contribution of twenty-two "stand-alone" indices. Yet demonstrating similar price dynamics, computed indices vary substantially in magnitude. The results confirm the initial notion that differences among property indices may in fact result from inconsistencies in the underlying methodological approaches. The final index is in line with other well recognized Swiss indices, displaying an annual mean growth rate of 2.47% and a standard deviation of 0.07, which is slightly below the average value of its peers over the observed timeframe. Further, I find certain lagged macroeconomic factors to be significantly associated with price trends in the Swiss property asset market.
Book Synopsis Construction Cost and Price Indices by : Brian A. Tysoe
Download or read book Construction Cost and Price Indices written by Brian A. Tysoe and published by Spon Press. This book was released on 1981 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Flexible Method of House Price Index Construction Using Repeat-Sales Aggregates by : William D. Larson
Download or read book A Flexible Method of House Price Index Construction Using Repeat-Sales Aggregates written by William D. Larson and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The major issue which we address in this paper is the one-size-fits-all nature of the typical city-level house price index. In this vein, we make two contributions. First, we develop a new algorithm to ensure feasible estimation of geographically granular repeat-sales house price indices in cases of low transactions counts. This facilitates the estimation of a balanced panel of 63,122 Census tract-level repeat-sales house price indices (2010 definitions) at an annual frequency between 1989 and 2021, which we release alongside this paper. Second, we use these indices to estimate city-level house price indices that are robust to heterogeneous submarket appreciation and non-random sampling, two issues that confound classic approaches. Numerical simulations show this algorithm uncovers population indices even when house prices, quantities, and transaction sampling vary across locations and over time. This approach can be used in a flexible manner to calculate canonical price indices such as Lowe and Laspeyres, and more tailored summary indices on a variety of topics, including collateral valuation, climate risk assessment, or tracking changes to minority housing wealth over time.
Download or read book Construction Price Indices written by and published by . This book was released on 1997 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis House Price Methodology by : Marko Hannonen
Download or read book House Price Methodology written by Marko Hannonen and published by Suomen E-painos Oy. This book was released on with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet discusses some major methodological issues relating to the construction of house price models on a macro level. There is no single method that always produces the optimal results; the choice of a particular approach, method, theory, model and technique is context-dependent. This is especially true in housing markets, where a multitude of different submarkets exist. The methodology chosen should be based on sound theory, from which the basic concepts of analysis can be derived. This booklet discusses the use of potential models, which can be constructed using a general field theory, and which act as a theoretical foundation for further analysis. If we use potential models for house price analysis we can discover additional features from the data set that other approaches would simply miss. This e-book presents a pragmatic overview of key methodological concerns with the emphasis on the use of potential models. Theoretical methodological questions are left unanswered, and are not even presented in this text, since they have little relevancy to real-world modelling questions.
Book Synopsis Daily House Price Indices by : Tim Bollerslev
Download or read book Daily House Price Indices written by Tim Bollerslev and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Daily House Price Indexes by : Tim Bollerslev
Download or read book Daily House Price Indexes written by Tim Bollerslev and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Construction Cost and Price Indices by : Great Britain. Department of Health and Social Security
Download or read book Construction Cost and Price Indices written by Great Britain. Department of Health and Social Security and published by . This book was released on 1977 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Construction of Residential & Commercial Property Price Indices In Taiwan by :
Download or read book Construction of Residential & Commercial Property Price Indices In Taiwan written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Determinants of Property Prices in Hong Kong SAR by : Mr.R. Sean Craig
Download or read book Determinants of Property Prices in Hong Kong SAR written by Mr.R. Sean Craig and published by International Monetary Fund. This book was released on 2011-11-01 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses an econometric model of residential property prices in Hong Kong SAR to assess the effectiveness of alternative policies in slowing the increase in property prices. The rapid rise in property prices is well explained by macroconomic fundamentals; real GDP per capital, real domestic credit, construction costs, land supply, and the real interest rate. Policy can influence the property market though land supply and prudential and tax policy, with the latter policies taking the form of a stamp duty on property transactions and a tighter loan-to-value ratio (LTV) on lending. Land supply is the most effective policy insturment for restraining property price increases but it operates with a significant lag. The LTV and stamp duty dampen speculative activity that drives up property prices. While these policies can slow the increase in the short run, they should be guided by their long run objectives of financial stability and counteracting speculation.
Author :International Labour Office Publisher :International Labour Organization ISBN 13 :9789221136996 Total Pages :578 pages Book Rating :4.1/5 (369 download)
Book Synopsis Consumer Price Index Manual by : International Labour Office
Download or read book Consumer Price Index Manual written by International Labour Office and published by International Labour Organization. This book was released on 2004-08-25 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
