New house price index will tell homeowners 'what they really want to know'

CoreLogic's new hedonic house price index will be smoother and faster, it says. (Image: Bloomberg)

Tue, 30 Jul 2024

Property data company CoreLogic is changing the way it calculates house prices, a move it says will provide a more timely and detailed view of the market.From Aug 1, the CoreLogic New Zealand Residential Property Index will be based on the "hedonic imputation model", a method that doesn’t use government valuations and considers more information about a home’s characteristics.CoreLogic chief economist Kelvin Davidson said the statistical technique builds up a house price from 15 individual components, such as the number of...

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