Abstract
Though hedonic regression remains a popular technique for estimating property values, structural equation modelling (SEM) is increasingly seen as a realistic analytical alternative. The article presents an SEM analysis of a historical dataset for a large Canadian realtor. An iterative approach was adopted for the modelling. The first phase focussed on internal relationships between houses’ structural characteristics and the second, on housing values and their determinants. In the final phase, advertised list prices and location details were the priority. A comprehensive evaluation of the resulting holistic model revealed a wealth of significant structural relationships - particularly between house style, structure and attributes.
| Original language | English |
|---|---|
| Title of host publication | 17th ASMDA 2017 International Conference |
| Place of Publication | London |
| Publisher | ASMDA |
| Pages | 345-353 |
| Number of pages | 9 |
| Publication status | Published - 2017 |
| Event | The 17th Conference of the Applied Stochastic Models and Data Analysis International Society - De Morgan House, London Mathematical Society, London, United Kingdom Duration: 6 Jun 2017 → 9 Jun 2017 |
Conference
| Conference | The 17th Conference of the Applied Stochastic Models and Data Analysis International Society |
|---|---|
| Abbreviated title | ASMDA2017 |
| Country/Territory | United Kingdom |
| City | London |
| Period | 6/06/17 → 9/06/17 |
Keywords
- Housing Prices
- Hedonic Price Theory
- Structural Equation Modelling