Measuring and explaining house price developments

Title

Measuring and explaining house price developments

 Author

De Vries, P.

Faculty

OTB Research Institute

 Department

Housing Studies

 Date

2010-11-24

 Abstract

This study discusses ways of measuring and explaining the development of house prices. The goal of the research underpinning this dissertation was to develop a methodological framework for studying these developments. This framework relates, first, to correcting for changes in the composition of swellings and, second, to the fundamentals of the price development. Using the weighted repeat sales method and sale price apparaisal ratio (SPAR) method house price indexes wer developed for the Netherlands. Both the Dutch land registry office and Statistics Netherlands publish the SPAR based house price index monthly. To explain and predict changes in prices a house price model is presented. As suggested in literature on western housingmarkets, the Dutch house price developments can be explained by demand-oriented short-run term variables and a long-run term variable. Using the house price model, this work identifies the fundamental factors in the developmentof house prices, a long-run equilibrium between interest payments and income, and the weak relationship on an aggregated level between house prices and newly built dwellings.

 Subject

house price

 To reference this document use:

http://resolver.tudelft.nl/uuid:fdb53ec1-7575-4c78-ae4c-4b4a0669a71a

 Publisher

IOS Press

 ISSN

1574-6410

 Source

Sustainable Urban Areas 36

 Other version

http://www.iospress.nl/

 Part of collection

Institutional Repository

 Document type

book

 Rights

(c) 2010 De Vries, P.
Files
PDF IOS_de_vries_2010.pdf 9.93 MB
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