Purpose: This paper aims to study the phenomenon known as “house price dispersion”, one of the most important distinctive features of housing markets. House price dispersion refers to the phenomenon of selling two houses with very similar attributes and in near locations at the same time...

Purpose: This paper aims to study the relationship between the rental and selling prices, a very important topic that forms the fundamentals of real estate markets. Design/methodology/approach: This theoretical paper makes use of a search and matching model of the housing market. The search and...

Purpose: This paper aims to explain the main empirical facts of housing markets, notably the trade-off between housing price and time-on-the-market, the positive correlation between housing price and the number of contracts traded during a given period (i.e. the trading volume) and the...

Purpose: The purpose of this paper is to comment upon the use of hedonic pricing models for the valuation of property. This model can be particularly useful for some housing markets. Design/methodology/approach: This Education Briefing is an explanation of the how hedonic pricing can be useful...

Purpose: The purpose of this paper is to provide an integrated approach that combines the two methods usually used in the real estate appraisals, namely, the income capitalisation method and the hedonic model. Design/methodology/approach: In order to pull out the link between the income...

Purpose: The aim of this education briefing is to comment upon how basic hedonic pricing models for the valuation of property can be expanded and developed. In this case, the briefing illustrates the use of the new economic approach to the analysis of housing markets, namely the...