RDP 2006-04: Measuring Housing Price Growth – Using Stratification to Improve Median-based Measures References

Nalini Prasad and Anthony Richards

May 2006

(ABS) Australian Bureau of Statistics (2005), ‘Renovating the established house price index’, ABS Information Paper No 6417.0.

Bourassa SC, F Hamelink, M Hoesli and BD MacGregor (1999), ‘Defining housing submarkets’, Journal of Housing Economics, 8(2), pp 160–183.

Briggs J and V Duoba (2000), ‘STRAT2D: optimal bi-variate stratification system’, Statistics New Zealand Catalogue No 01.093.0000.

Case KE and RJ Shiller (1987), ‘Prices of single-family homes since 1970: new indexes for four cities’, New England Economic Review, September/October, pp 45–56.

Everitt B (1980), Cluster Analysis, 2nd edn, Social Science Research Council by Heinemann Educational Books, Halstead Press, New York.

Goodman AC and TG Thibodeau (2003), ‘Housing market segmentation and hedonic prediction accuracy’, Journal of Housing Economics, 12(3), pp 181–201.

Hansen J (2006), ‘Australian house prices: a comparison of hedonic and repeat-sales measures’, Reserve Bank of Australia Research Discussion Paper No 2006-03.

Hansen MH, WN Hurwitz and WG Madow (1953), Sample survey methods and theory: Volume I, Wiley, New York.

Lavallée P (1988), ‘Two-way optimal stratification using dynamic programming’, Proceedings of the Survey Methods Section, 11th edn, American Statistics Association, Alexandria, pp 646–651.

McCarthy J and RW Peach (2004), ‘Are home prices the next “bubble”?’, Federal Reserve Bank of New York Economic Policy Review, 10(3), pp 1–17.

Meese RA and NE Wallace (1997), ‘The construction of residential housing price indices: a comparison of repeat-sales, hedonic-regression, and hybrid approaches’, Journal of Real Estate Finance and Economics, 14(1–2), pp 51–73.

Norman D and T Walker (2004), ‘Co-movement of Australian state business cycles’, Reserve Bank of Australia Research Discussion Paper No 2004-09.

(REINZ) Real Estate Institute of New Zealand (2005), ‘Higher end property sales drive residential median up further’, REINZ News Release, 19 April.