Construction and Application of Property Price Indices: 1st Edition (Hardback) book cover

Construction and Application of Property Price Indices

1st Edition

By Anthony Owusu-Ansah

Routledge

210 pages

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Hardback: 9781138104709
pub: 2018-07-26
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pub: 2018-07-11
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Description

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.

Table of Contents

1. Introduction

2. A Global Tour of Property Price Indices

3. The Theory of Hedonic Pricing Modeling

4. House Price Index Construction Methods

5. Data Types and Preparation

6. Empirical Demonstration of Property Price Index Construction

About the Author

Anthony Owusu-Ansah (PhD) is a Senior Lecturer and Coordinator of Graduate Programmes at the Business School of the Ghana Institute of Management and Public Administration (GIMPA), Accra. He has published extensively in the areas of house price index construction, housing market dynamics, hedonic modelling and the role of real estate in portfolio management. He is a professional member of the Ghana Institution of Surveyors and an Associate of the British Higher Education Academy.

About the Series

Routledge Studies in International Real Estate

The Routledge Studies in International Real Estate Series presents a forum for the presentation of cutting edge research into international real estate issues published to Routledge’s exacting academic standards. Books in the series will be broad in their conceptual scope and reflect an inter-disciplinary approach to Real Estate as an academic discipline.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS036050
BUSINESS & ECONOMICS / Investments & Securities / Real Estate
BUS054000
BUSINESS & ECONOMICS / Real Estate
BUS054010
BUSINESS & ECONOMICS / Real Estate / Buying & Selling Homes
BUS054030
BUSINESS & ECONOMICS / Real Estate / Mortgages
BUS086000
BUSINESS & ECONOMICS / Forecasting
TEC005000
TECHNOLOGY & ENGINEERING / Construction / General