A house price index for the Netherlands: a review of the SPAR method
P de Vries (TU Delft - OLD Housing Systems)
Gust Marien (TU Delft - OLD Support RES)
J den Haan (External organisation)
E. van der Wal (External organisation)
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Abstract
The so-called Sale Price Appraisol Ratio (SPAR) method has been applied in a number of
countries to construct house price indexes. The method, which uses ratios of transaction
prices and previous appraised values to build up an index, has been applied in New
Zealand, Sweden and Denmark. This paper discusses the statistical properties of the
SPAR price indexes and compares the SPAR with Repeat Sales Index created from the
same transactions data. Preliminary empirical results for the Netherlands covering a
period of over ten years are presented. As SPAR appears to have more to offer than the
more traditional methods, government agencies elsewhere would be well advised to
consider it when developing indexes for price movements in the housing stock.
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