House Price Indexes, Approaches and Methods. The 2008 World Congress on National Accounts and Economic Performance Measures for

• Main Authors: Rósmundur Guðnason, Guðrún R. Jónsdóttir, Jel C
• Other Authors: The Pennsylvania State University CiteSeerX Archives
• Format: Text
• Language: English
• Published: 2008
• Subjects: expenditure surveys; Iceland
• Online Access: http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.603.1648; http://www.statice.is/lisalib/getfile.aspx?itemid=8837

This paper discusses some methods used in the compilation of quality adjusted house price indices. First there is the repeated sales method, secondly the assessment method, third the stratification method and finally the hedonic method. The Icelandic house price index is described based on present value of sales contracts collected by the Land registry of Iceland. A stratification method is used and a superlative index compiled using geometric estimator. The simple user cost method is also described using annuity method, depreciation and real interest rates. Key words: Assessment method, consumer price index, cost of living index, household