Developing a local house price index

the case of Aberdeen, Scotland

    Research output: Working paper

    Abstract

    The paper reports on the development of a local house price index for the Aberdeen housing market. It highlights the decisions that need to be made in the
    process of developing such an index and the influence of institutional context on these decisions. The basis of the index is a hedonic model re-estimated quarterly
    using a rolling window approach. Index values are generated using Laspeyres (base-period) weights and defining a standard property as semi-detached with
    median structural characteristics. The paper describes the additional information reported to users (alongside the index values) including changes over
    different periods, price levels and the volume of transactions. Analysis of results support the development of local house price indices and confirm that
    house price dynamics in the Aberdeen housing market area are distinct from those estimated for broader geographical areas.
    Original languageEnglish
    Place of PublicationAberdeen
    PublisherUniversity of Aberdeen Business School
    Pages1-36
    Number of pages36
    Volume2013-03
    Publication statusPublished - 19 Aug 2013

    Publication series

    NameBusiness School Working Paper Series
    No.03
    Volume2013
    ISSN (Electronic)0143-4543

    Fingerprint

    House price index
    Scotland
    Housing market
    Hedonic model
    Price dynamics
    Value change
    Price level
    Institutional context

    Cite this

    Owusu-Ansah, A., Roberts, D. J., Schulz, R., & Wersing, M. (2013). Developing a local house price index: the case of Aberdeen, Scotland. (pp. 1-36). (Business School Working Paper Series; Vol. 2013, No. 03). Aberdeen: University of Aberdeen Business School.

    Developing a local house price index : the case of Aberdeen, Scotland. / Owusu-Ansah, Anthony; Roberts, Deborah Jane; Schulz, Rainer; Wersing, Martin.

    Aberdeen : University of Aberdeen Business School, 2013. p. 1-36 (Business School Working Paper Series; Vol. 2013, No. 03).

    Research output: Working paper

    Owusu-Ansah, A, Roberts, DJ, Schulz, R & Wersing, M 2013 'Developing a local house price index: the case of Aberdeen, Scotland' Business School Working Paper Series, no. 03, vol. 2013, University of Aberdeen Business School, Aberdeen, pp. 1-36.
    Owusu-Ansah A, Roberts DJ, Schulz R, Wersing M. Developing a local house price index: the case of Aberdeen, Scotland. Aberdeen: University of Aberdeen Business School. 2013 Aug 19, p. 1-36. (Business School Working Paper Series; 03).
    Owusu-Ansah, Anthony ; Roberts, Deborah Jane ; Schulz, Rainer ; Wersing, Martin. / Developing a local house price index : the case of Aberdeen, Scotland. Aberdeen : University of Aberdeen Business School, 2013. pp. 1-36 (Business School Working Paper Series; 03).
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