Australian House Prices: A Comparison of Hedonic and Repeat-Sales Measures.

• Autores: James Hansen
• Localización: Economic record, ISSN 0013-0249, Vol. 85, Nº. 269, 2009, págs. 132-145
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • House prices are difficult to measure due to changes in the composition of properties sold through time and changes in the quality of housing. I explore whether these issues affect simple measures of house prices, and whether regression-based measures provide an accurate alternative to measuring pure house price changes in Australia. Using unit record data for Australia's three largest cities, regression-based approaches provide a more accurate estimate of pure price changes than a median, and are comparable, with around half of the variation in prices growth explained. These results confirm that regression-based measures are useful for measuring house price changes in Australia.