A simple alternative house price index method

被引:77
作者
Bourassa, Steven C.
Hoesli, Martin
Sun, Jian
机构
[1] Univ Louisville, Sch Urban & Publ Affairs, Louisville, KY 40208 USA
[2] Univ Geneva, HEC, CH-1211 Geneva 4, Switzerland
[3] Univ Geneva, Swiss Finance Inst, CH-1211 Geneva 4, Switzerland
[4] Univ Aberdeen, Sch Business, Aberdeen AB24 3QY, Scotland
[5] Bordeaux Business Sch, F-33405 Talence, France
关键词
house price indexes;
D O I
10.1016/j.jhe.2006.03.001
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper presents the sale price appraisal ratio (SPAR) method for constructing house price indexes. The method, which uses ratios of transaction prices and previous appraised values, has been applied since the early 1960s to produce semiannual price indexes for regions and cities in New Zealand. We compare the official New Zealand indexes for three urban areas with repeat sales and hedonic indexes created from the same transactions data, and observe that the SPAR method produces an index very much like those produced by repeat sales methods. Given the number of advantages and few disadvantages that we find for the SPAR method relative to the more traditional methods, we maintain that it should be considered by government agencies elsewhere when developing house price indexes. (c) 2006 Elsevier Inc. All rights reserved.
引用
收藏
页码:80 / 97
页数:18
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