Housing markets are typically segmented into a number of different sub‐markets. If the sub‐markets are not included in the hedonic estimation process, parameters will be biased. Furthermore, if neighbourhood characteristics are omitted, there is a risk that spatial dependency will be...

Purpose – The purpose of this paper is to investigate whether or not the offer price affects the transaction price and the number of days the property is on the market. Specifically, is it possible for the broker to use the offer price as an instrument for obtaining a higher transaction price?...

Purpose – The purpose of this paper is to construct a hedonic property price index in the segmented housing market. Design/methodology/approach – Three different research questions are investigated. The first considers how to identify separate local housing markets, with the use of a...