ABSTRACT
This chapter provides the results from estimating house price indices. It examines the results obtained from the estimates of the hedonic characteristics. The chapter analyses the hedonic characteristics results estimated by the ETV hedonic, the SCS hedonic and the Q-hybrid models. It compares various models to construct the house price indices. The overall accuracy of the various indices across time is also examined based on the mean squared error (MSE) criteria. The chapter looks at whether the differences between the various models as given by the MSE are statistically significant. It also looks at the influence of temporal aggregation on house prices to find out if pooling data together across time is warranted in constructing house price indices. Housing transactions are executed on a daily basis but are often pooled together across time since the daily transactions are typically few and infrequent. It is therefore necessary to examine how aggregated the data pooling should be in the construction of indices.
