Print Email Facebook Twitter The measurement of house prices: A review of the sale price appraisal ratio method Title The measurement of house prices: A review of the sale price appraisal ratio method Author De Haan, J. Van der Wal, E.B. De Vries, P. Faculty OTB Research Institute Department Housing Systems Date 2009-12-31 Abstract The sale price appraisal ratio (SPAR) method has been applied in a number of countries to construct house price indexes. This paper reviews the statistical and index number properties of the SPAR approach. Three types of SPAR indexes are distinguished: a weighted index, which aims at tracking the price change of the stock of owner-occupied houses, and two unweighted indexes, an arithmetic one and a geometric one. We also discuss stratified versions of these indexes and show how stratification can be used to estimate an expenditure-based Laspeyres-type price index. Empirical results for the Netherlands are given and compared with the repeat-sales index published by the Dutch land registry until January 2008. Subject house price indexSPAR methodappraisal valuehouse price To reference this document use: http://resolver.tudelft.nl/uuid:bc72a982-fced-4773-a98a-7d28a1ed59f3 DOI https://doi.org/10.3233/JEM-2009-0317 Publisher IOS Press ISSN 0747-9662 Source Journal of economic and social measurement 34 (2-3), 51-86, (2009) Part of collection Institutional Repository Document type journal article Rights (c) 2009 IOS Press and the authors Files PDF 246381.pdf 1.02 MB Close viewer /islandora/object/uuid:bc72a982-fced-4773-a98a-7d28a1ed59f3/datastream/OBJ/view