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The hedonic regression is a method used to calculate the patented RP Data CoreLogic Daily Home Value Index. This methodology seeks to overcome the issue of compositional bias associated with median price and repeat sales measures. The premise for this lies in hedonic theory which says that the value of a composite good, such as a house, is the sum of its components. Thus, by separating the sample of houses into their various structural and locational attributes, the differences in these qualitative factors across houses can be controlled.
Hedonic imputation is a method of imputing the value of dwellings having a certain set of characteristics (but no current sales price) by observing the sales prices and characteristics of other dwellings that do have recent sales prices. To learn more about the methodology used in the RP Data CoreLogic Daily Home Value indices please refer to the following studies, which have been published in the interests of transparency:
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RP Data is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider. Regionally RP Data is part of CoreLogic Asia which is a leading property information, analytics and services provider in Australia and New Zealand with growing partnerships throughout Asia.
With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 500 million decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information. With over 11,000 customers and 120,000 end users, RP Data is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, insurance, developers, wealth management and government. Learn more...