IDEAS home Printed from https://ideas.repec.org/p/arz/wpaper/eres2007_382.html
   My bibliography  Save this paper

Advanced Forecasting Information System - PYTHIA: Application in Real Estate

Author

Listed:
  • Elli Pagourtzi

Abstract

This paper presents an Advanced Forecasting Information System - PYTHIA - estimating real estate values. PYTHIA was developed with MS Visual Basic.NET and Dundas Chart for .NET. Database was developed with MS SQL Server 2000. System implementation includes the processes of sub-system development according their architecture. Moreover, the real interconnection of these sub-systems and their integration in a general complete and functional system is realised. Sub-systems implementation is specific for each module and their particular functions. The sub-systems are developed independent, according to specific requirements so that their interconnection will become feasible. System innovation focuses on sub-systems implementation and methodology. Sub-systemís that integrated in Pythia are: Data Adjustments, Data analysis, Special Events / Actions (SEA), Forecasting methods, Forecasts, Monitoring and Reporting sub-system. The applicability of the system was tested with real database real estate values. It was used in order to test and evaluate the IT system. Data is used here, which represents the total average dwelling prices of U.K. and is organized in months, from January 1983 up to September 2006. This paper will examine the present state in UK house market and will test the estimation methods on the monthly data. The time series data used for forecasting is again provided from the Halifax House Price Index and covers different categories of buyers (all, first-time buyers and home-movers) and houses (all, new and existing).

Suggested Citation

  • Elli Pagourtzi, 2007. "Advanced Forecasting Information System - PYTHIA: Application in Real Estate," ERES eres2007_382, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2007_382
    as

    Download full text from publisher

    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2007-382
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arz:wpaper:eres2007_382. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Architexturez Imprints (email available below). General contact details of provider: https://edirc.repec.org/data/eressea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.