Construction and application of property price indices

The importance of house prices to households, real estate developers, banks and policy-makers cannot be overemphasised.

House price changes affect consumer spending and business investment patterns, which in turn affect the wider macro economy and the entire business cycle.

Measuring and understanding house prices is therefore essential to a functioning economy, but researchers continue to disagree on the best methodological approach for constructing real estate indices.

This book argues the need for more accurate house price indices, outlines the various methods used to construct indices and discusses the existing house price indices around the globe.