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Moving window regression (MWR) in mass appraisal for property rating

Buyong, Taher and Ismail, Suriatini and Sipan, Ibrahim and Hashim, Mohamad Ghazali and Azhar, Mohammad Firdaus (2008) Moving window regression (MWR) in mass appraisal for property rating. In: International Real Estate Research Symposium (IRERS) 2008 Benchmarking, Innovating and Sustaining Real Estate Market Dynamics, 28 – 30th April 2008, PWTC Kuala Lumpur, Malaysia. (Unpublished)

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Abstract

Mass appraisal can be defined as an art and science of valuing properties in a defined geographic area using maps, market data, comparative information and valid statistical procedure. Mass appraisal allows valuing a large number of properties in a reasonably short period of time and for a relatively small cost per property. Several statistical methods are available for mass appraisal of properties and this paper focuses on the use of Moving Window Regression (MWR). MWR is capable of handling spatial effects peculiar to property data where this characteristic is not available in the conventional Multiple Regression Analysis (MRA). This paper presents preliminary analysis of the MWR method using 196 housing sales observation occurring between 2004 and 2006 within Majlis Perbandaran Kulai. The results are compared with the MRA method to assess the predictive performance of the method.

Item Type:Conference or Workshop Item (Paper)
Uncontrolled Keywords:Geographically Weighted Regression (GWR), spatial heterogeneity, spatial regression, property tax
Subjects:G Geography. Anthropology. Recreation > G Geography (General)
T Technology > T Technology (General)
H Social Sciences > H Social Sciences (General)
H Social Sciences > HA Statistics
Divisions:Geoinformation Science And Engineering (Formerly known)
ID Code:5684
Deposited By: Dr Suriatini Ismail
Deposited On:12 Jun 2008 07:08
Last Modified:01 Jun 2010 15:33

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