A real-time mix-adjusted median property price index enabled by an efficient nearest neighbour approximation data structure

Abstract Homeowners, first-time buyers, banks, governments and construction companies are highly interested in following the state of property market. Currently, price indexes published several months out date hence do not offer up-to-date information which housing market stakeholders need order to make informed decisions. In this article, we present an enhanced version a mix-adjusted median based index uses geospatial data stratification compare similar houses sold different trading periods. The expansion algorithm include additional parameters, enabled by both richer dataset introduction new, efficient structure for nearest neighbour approximation, allows far smoother more robust than original produced.