Auction price index model for residential properties

The purpose of this study is to develop an auction price index model for residential properties. The model is needed to solve the problem of the unavailability of an auction property price index in Malaysia which is important in monitoring market price movement. The thin nature of auction property m...

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Main Author:	Ng, Pooi Leng
Format:	Thesis
Language:	English
Published:	2019
Subjects:	NA Architecture
Online Access:	http://eprints.utm.my/id/eprint/81760/1/NgPooiLengPFAB2019.pdf
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id	my-utm-ep.81760
record_format	uketd_dc
spelling	my-utm-ep.817602019-09-22T07:26:31Z Auction price index model for residential properties 2019 Ng, Pooi Leng NA Architecture The purpose of this study is to develop an auction price index model for residential properties. The model is needed to solve the problem of the unavailability of an auction property price index in Malaysia which is important in monitoring market price movement. The thin nature of auction property market has prompted this study to explore the applicability of rank transformation regression model for the auction property market data instead of using the conventional hedonic price model as employed in the Malaysian House Price Index. Data of high-rise auction property sold from year 2010 to 2014 in Kuala Lumpur was collected from Lelongtips.com. Review of journals, newspapers, legal acts as well as interview with valuers, auctioneers and lawyers were conducted in order to determine the factors to be considered in developing the auction property price model. The rank transformation regression model was analysed, its predictive power and precision performance were validated. This is followed by the application of hedonic Laspeyres Index method to construct the auction property price index. The result shows that rank transformation regression price model is applicable for traded auction property data. The quarterly Auction Price Index built from 2010Q1 to 2014Q4 revealed that the residential auction sale price is on an increasing trend, averaging at 2.4%, with some fluctuations. The construction of auction property price index through the integration of quarterly rank transformation regression and hedonic Laspeyres Index gives the benefit of a more accurate model prediction without the problem of geographical or temporal aggregation. 2019 Thesis http://eprints.utm.my/id/eprint/81760/ http://eprints.utm.my/id/eprint/81760/1/NgPooiLengPFAB2019.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:126520 phd doctoral Universiti Teknologi Malaysia Built Environment
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	NA Architecture
spellingShingle	NA Architecture Ng, Pooi Leng Auction price index model for residential properties
description	The purpose of this study is to develop an auction price index model for residential properties. The model is needed to solve the problem of the unavailability of an auction property price index in Malaysia which is important in monitoring market price movement. The thin nature of auction property market has prompted this study to explore the applicability of rank transformation regression model for the auction property market data instead of using the conventional hedonic price model as employed in the Malaysian House Price Index. Data of high-rise auction property sold from year 2010 to 2014 in Kuala Lumpur was collected from Lelongtips.com. Review of journals, newspapers, legal acts as well as interview with valuers, auctioneers and lawyers were conducted in order to determine the factors to be considered in developing the auction property price model. The rank transformation regression model was analysed, its predictive power and precision performance were validated. This is followed by the application of hedonic Laspeyres Index method to construct the auction property price index. The result shows that rank transformation regression price model is applicable for traded auction property data. The quarterly Auction Price Index built from 2010Q1 to 2014Q4 revealed that the residential auction sale price is on an increasing trend, averaging at 2.4%, with some fluctuations. The construction of auction property price index through the integration of quarterly rank transformation regression and hedonic Laspeyres Index gives the benefit of a more accurate model prediction without the problem of geographical or temporal aggregation.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Ng, Pooi Leng
author_facet	Ng, Pooi Leng
author_sort	Ng, Pooi Leng
title	Auction price index model for residential properties
title_short	Auction price index model for residential properties
title_full	Auction price index model for residential properties
title_fullStr	Auction price index model for residential properties
title_full_unstemmed	Auction price index model for residential properties
title_sort	auction price index model for residential properties
granting_institution	Universiti Teknologi Malaysia
granting_department	Built Environment
publishDate	2019
url	http://eprints.utm.my/id/eprint/81760/1/NgPooiLengPFAB2019.pdf
_version_	1747818407390085120

Auction price index model for residential properties

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