Show simple item record

dc.contributor.authorCostello, Greg
dc.contributor.authorLeishman, C.
dc.contributor.authorRowley, Steven
dc.contributor.authorWatkins, C.
dc.contributor.editorPacific Rim Real Estate Society Conference
dc.date.accessioned2017-01-30T14:06:25Z
dc.date.available2017-01-30T14:06:25Z
dc.date.created2013-03-12T20:00:30Z
dc.date.issued2012
dc.identifier.citationCostello, Greg and Leishman, Chris and Rowley, Steven and Watkins, Craig. 2012. The predictive performance of multi-level models of housing submarkets: A comparative analysis, in Pacific Rim Real Estate Society Conference (ed), Annual Pacific Rim Real Estate Society Conference, Jan 15 2012, pp. 1-29. Adelaide, Australia.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/37690
dc.description.abstract

Much of the housing submarket literature has focused on establishing methods that allow the partitioning of data into distinct market segments. This paper seeks to move the focus on to the question of how best to model submarkets once they have been identified. It focuses on evaluating effectiveness of multi-level models as a technique for modelling submarkets. The paper uses data on housing transactions from Perth, Western Australia, to develop and compare three competing submarket modelling strategies. Model one consists of a citywide "benchmark", model two provides a series of submarket-specific hedonic estimates (this is the ‘industry standard’) and models three and four provide two variants on the multi-level model (differentiated by variation in the degrees of spatial granularity embedded in the model structure). The results suggest that greater granularity enhances performance, although improvements in predictive accuracy will not necessarily offer compelling grounds for the adoption of the multi-level approach.

dc.publisherPacific Rim Real Estate Society Conference
dc.relation.urihttp://www.prres.net/index.htm?http://www.prres.net/Conference/2012Conference.htm
dc.subjecthedonic models
dc.subjectprediction accuracy
dc.subjectHousing economics
dc.subjectsubmarkets
dc.subjectmulti-level models
dc.titleThe predictive performance of multi-level models of housing submarkets: a comparative analysis
dc.typeConference Paper
dcterms.source.startPage1
dcterms.source.endPage29
dcterms.source.titleProceedings from the PRRES conference:18th annual Pacific Rim Real Estate Society conference
dcterms.source.seriesProceedings from the PRRES conference:18th annual Pacific Rim Real Estate Society conference
dcterms.source.conferenceAnnual Pacific Rim Real Estate Society Conference
dcterms.source.conference-start-dateJan 15 2012
dcterms.source.conferencelocationAdelaide, Australia
dcterms.source.placeAdelaide, Australia
curtin.department
curtin.accessStatusFulltext not available


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record