A comparison of UK residential house price indices - BIS Papers No 21, part 16, April 2005
نویسنده
چکیده
The measurement of house prices poses significant conceptual and practical problems, mainly because dwellings are heterogeneous assets whose prices can only be observed when they are sold. There are now seven main house price indices for the United Kingdom. In broad terms, each measures one of three different concepts: the value of a representative set of house transactions; the price of a house with “typical” characteristics; the value of the housing stock. The indices are constructed from different data using different methods. Consequently, the available measures of house prices can give conflicting or misleading signals about house price inflation.
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