Spatial–temporal neighbourhood-level house price index
International Journal of Housing Markets and Analysis
ISSN: 1753-8270
Article publication date: 19 April 2018
Issue publication date: 21 May 2018
Abstract
Purpose
The purpose of this study is to develop a spatio-temporal neighbourhood-level house price index (STNL-HPI) incorporating a geographic information system (GIS) functionality that can be used to improve the house price indexation system.
Design/methodology/approach
By using the Malaysian house price index (MHPI) and application of geographically weighted regression (GWR), GIS-based analysis of STNL-HPI through an application called LHPI Viewer v.1.0.0, the stand-alone GIS-statistical application for STNL-HPI was successfully developed in this study.
Findings
The overall results have shown that the modelling and GIS application were able to help users understand the visual variation of house prices across a particular neighbourhood.
Research limitations/implications
This research was only able to acquire data from the federal government over the period 1999 to 2006 because of budget limitations. Data purchase was extremely costly. Because of financial constraints, data with lower levels of accuracy have been obtained from other sources. As a consequence, a major portion of data was mismatched because of the absence of a common parcel identifier, which also affected the comparison of this system to other comparable systems.
Originality/value
Neighbourhood-level HPI is needed for a better understanding of the local housing market.
Keywords
Citation
Sipan, I., Mar Iman, A.H. and Razali, M.N. (2018), "Spatial–temporal neighbourhood-level house price index", International Journal of Housing Markets and Analysis, Vol. 11 No. 2, pp. 386-411. https://doi.org/10.1108/IJHMA-03-2017-0027
Publisher
:Emerald Publishing Limited
Copyright © 2018, Emerald Publishing Limited