A house price index based on the SPAR method

P de Vries; J den Haan; AAA Marien; E van der Wal

A house price index based on the SPAR method

P de Vries, J den Haan, AAA Marien, E van der Wal

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific

Abstract

SPAR (Sale Price Appraisal Ratio) is a model for constructing House Price Indexes on the basis of the ratios of transaction prices and previous Appraisal Values. It has been applied in New Zealand, Sweden and Denmark. This paper assesses the reliability of Appraisal Value and compares the SPAR Index with the Repeat Sales Index and the Hedonic Index based on the same transaction data. It presents preliminary empirical results for the Netherlands over a ten-year period. As SPAR appears to have more to offer than the more traditional methods, government agencies elsewhere would be well advised to consider it when developing indexes for price movements in the housing stock.

Original language	Undefined/Unknown
Title of host publication	Cambridge-UNC Symposium risk management & property valua at risk
Editors	R Buttimer, K Patel
Place of Publication	Cascais, Portugal
Publisher	Imométrica
Pages	308-329
Number of pages	22
Publication status	Published - 2007
Event	The Cambridge ¿ UNC Charlotte Symposium on Real Estate Risk Management - Cascais, Portugal Duration: 15 Jun 2007 → 17 Jun 2007

Publication series

Name
Publisher	Imométrica

Conference

Conference	The Cambridge ¿ UNC Charlotte Symposium on Real Estate Risk Management
Period	15/06/07 → 17/06/07

Keywords

Conf.proc. > 3 pag

Cite this

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title = "A house price index based on the SPAR method",

abstract = "SPAR (Sale Price Appraisal Ratio) is a model for constructing House Price Indexes on the basis of the ratios of transaction prices and previous Appraisal Values. It has been applied in New Zealand, Sweden and Denmark. This paper assesses the reliability of Appraisal Value and compares the SPAR Index with the Repeat Sales Index and the Hedonic Index based on the same transaction data. It presents preliminary empirical results for the Netherlands over a ten-year period. As SPAR appears to have more to offer than the more traditional methods, government agencies elsewhere would be well advised to consider it when developing indexes for price movements in the housing stock.",

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author = "{de Vries}, P and {den Haan}, J and AAA Marien and {van der Wal}, E",

year = "2007",

language = "Undefined/Unknown",

publisher = "Imom{\'e}trica",

pages = "308--329",

editor = "R Buttimer and K Patel",

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note = "null ; Conference date: 15-06-2007 Through 17-06-2007",

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TY - GEN

T1 - A house price index based on the SPAR method

AU - de Vries, P

AU - den Haan, J

AU - Marien, AAA

AU - van der Wal, E

PY - 2007

Y1 - 2007

N2 - SPAR (Sale Price Appraisal Ratio) is a model for constructing House Price Indexes on the basis of the ratios of transaction prices and previous Appraisal Values. It has been applied in New Zealand, Sweden and Denmark. This paper assesses the reliability of Appraisal Value and compares the SPAR Index with the Repeat Sales Index and the Hedonic Index based on the same transaction data. It presents preliminary empirical results for the Netherlands over a ten-year period. As SPAR appears to have more to offer than the more traditional methods, government agencies elsewhere would be well advised to consider it when developing indexes for price movements in the housing stock.

AB - SPAR (Sale Price Appraisal Ratio) is a model for constructing House Price Indexes on the basis of the ratios of transaction prices and previous Appraisal Values. It has been applied in New Zealand, Sweden and Denmark. This paper assesses the reliability of Appraisal Value and compares the SPAR Index with the Repeat Sales Index and the Hedonic Index based on the same transaction data. It presents preliminary empirical results for the Netherlands over a ten-year period. As SPAR appears to have more to offer than the more traditional methods, government agencies elsewhere would be well advised to consider it when developing indexes for price movements in the housing stock.

KW - Conf.proc. > 3 pag

UR - http://www.landecon.cam.ac.uk/research/reuag/cambsuncc/cambsunc2007/3_De_Vries-Marien-De_Hann.pdf

M3 - Conference contribution

SP - 308

EP - 329

BT - Cambridge-UNC Symposium risk management & property valua at risk

A2 - Buttimer, R

A2 - Patel, K

PB - Imométrica

CY - Cascais, Portugal

Y2 - 15 June 2007 through 17 June 2007

ER -

A house price index based on the SPAR method

Abstract

Publication series

Conference

Keywords

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Cite this