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An Appraisal Based Residential Property Index

Author

Listed:
  • John Macfarlane
  • David Parker
  • Peter Rossini
  • Graeme Newell

Abstract

Appraisal-based indices for commercial property have been well established for many years, yet it is only in relatively recent times that serious proposals for transaction-based commercial property indices have been put forward. In contrast, in the residential property market, transaction-based property indices have been almost universally accepted; despite their well documented problems. The paper considers existing approaches to measuring movements in the residential property market, issues surrounding index construction and includes a review of the relevant literature. Based on data provided by the Australian Valuation Office, the paper considers the development of an appraisal-based residential property index and discusses its applicability and performance in relation to a number of transaction-based indices used in Australia.

Suggested Citation

  • John Macfarlane & David Parker & Peter Rossini & Graeme Newell, 2007. "An Appraisal Based Residential Property Index," ERES eres2007_281, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2007_281
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2007-281
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    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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