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The application of surface generated interpolation models for the prediction of residential property values

The application of surface generated interpolation models for the prediction of residential... The aim of this paper is to attempt to measure the effect of location on residential house prices and to endeavour to integrate spatial and aspatial data in terms of developing a hybrid predictive model. The research methodology investigates the traditional hedonic approach to modelling location using multiple regression techniques. Alternative approaches are considered which specifically model the spatial distribution of house prices with the objective of developing location adjustment factors. These approaches are based on the development of surface response techniques such as inverse distance weighting and universal kriging. The results generated from the surfaces created are then calibrated within MRA. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Property Investment & Finance Emerald Publishing

The application of surface generated interpolation models for the prediction of residential property values

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Publisher
Emerald Publishing
Copyright
Copyright © 2000 MCB UP Ltd. All rights reserved.
ISSN
1463-578X
DOI
10.1108/14635780010324321
Publisher site
See Article on Publisher Site

Abstract

The aim of this paper is to attempt to measure the effect of location on residential house prices and to endeavour to integrate spatial and aspatial data in terms of developing a hybrid predictive model. The research methodology investigates the traditional hedonic approach to modelling location using multiple regression techniques. Alternative approaches are considered which specifically model the spatial distribution of house prices with the objective of developing location adjustment factors. These approaches are based on the development of surface response techniques such as inverse distance weighting and universal kriging. The results generated from the surfaces created are then calibrated within MRA.

Journal

Journal of Property Investment & Finance – Emerald Publishing

Published: Apr 1, 2000

Keywords: Location; Modelling

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