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THE APPLICATION OF MULTIPLE REGRESSION ANALYSIS IN PROPERTY VALUATION

THE APPLICATION OF MULTIPLE REGRESSION ANALYSIS IN PROPERTY VALUATION The adoption of statistical methods of analysis by British valuers has been, at the best, rather piecemeal. This paper highlights the contrasting application of multiple regression analysis MRA within valuation practice in the USA relative to that in the UK and emphasises the need for suitable databases. Historically the valuer in the UK has lacked access to databases. The analyses presented in this paper indicate that, even if databases exist, factors such as statistical variability, heterogeneity, geographical scale and sample size may influence both the explanatory and predictive powers of the MRA model. Nevertheless the estimation of value from the objectivity of the MRA model can assist the valuer by supporting opinion or highlighting circumstances where reappraisal is necessary. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Valuation Emerald Publishing

THE APPLICATION OF MULTIPLE REGRESSION ANALYSIS IN PROPERTY VALUATION

Journal of Valuation , Volume 6 (1): 11 – Jan 1, 1988

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0263-7480
DOI
10.1108/eb008022
Publisher site
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Abstract

The adoption of statistical methods of analysis by British valuers has been, at the best, rather piecemeal. This paper highlights the contrasting application of multiple regression analysis MRA within valuation practice in the USA relative to that in the UK and emphasises the need for suitable databases. Historically the valuer in the UK has lacked access to databases. The analyses presented in this paper indicate that, even if databases exist, factors such as statistical variability, heterogeneity, geographical scale and sample size may influence both the explanatory and predictive powers of the MRA model. Nevertheless the estimation of value from the objectivity of the MRA model can assist the valuer by supporting opinion or highlighting circumstances where reappraisal is necessary.

Journal

Journal of ValuationEmerald Publishing

Published: Jan 1, 1988

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