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Conventional Methods in Housing Market Analysis: A Review of Literature

This paper reviews various conventional methods used in housing market analysis, highlighting their relevance and application in different scenarios, particularly in developing countries. It emphasizes the importance of these methods, such as the multiple regression model and hedonic model, in understanding housing dynamics and pricing. The study aims to provide recommendations for effective housing market analysis based on empirical literature and secondary data sources.

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0% found this document useful (0 votes)
8 views15 pages

Conventional Methods in Housing Market Analysis: A Review of Literature

This paper reviews various conventional methods used in housing market analysis, highlighting their relevance and application in different scenarios, particularly in developing countries. It emphasizes the importance of these methods, such as the multiple regression model and hedonic model, in understanding housing dynamics and pricing. The study aims to provide recommendations for effective housing market analysis based on empirical literature and secondary data sources.

Uploaded by

kamankwah2272
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Baltic Journal of Real Estate Economics and Construction Management

ISSN: 2255-9671 (online)


2020, 8, 227–241
https://doi.org/10.2478/bjreecm-2020-0016
https://content.sciendo.com

CONVENTIONAL METHODS IN HOUSING MARKET


ANALYSIS: A REVIEW OF LITERATURE
Musa Zango BELLO1, Mohammed Lekan SANNI2,
Jibrin Katun MOHAMMED2
Department of Estate Management, Baze University, Abuja, Nigeria
1
2
Department of Urban and Regional Planning, Federal University of Technology,
Minna, Nigeria
Corresponding author’s e-mail: [email protected]

Abstract. Housing market analysis has witnessed considerable changes in recent


decades, especially as a result of the complexity of human settlements and the
dynamics of property market analytical techniques. This paper reviews various
techniques/methods adopted by researchers and housing experts in analysing the
housing market in recent times. The present study is a literature review and,
therefore, essentially relies on published data sourced from academic journals,
conference papers, thesis, and other secondary sources. The paper highlights the
methods considered appropriate and relevant for different property market
scenarios, especially in developing countries. The paper, therefore, recommends
what it regards as the most appropriate basis for a housing market analysis and
research in developing countries against the backdrop of the dynamics of the
property market.
Keywords: Conventional methods, Housing market, Literature, Scenarios,
Techniques.

INTRODUCTION

The housing market is very imperative because of the place it holds in the
economy (Seo, 2008). Housing construction easily contributes to the Gross
Domestic Product (GDP) and its market has a direct impact on the national and
international economy (Hu, Cheng, Wang, & Xu, 2013). Consequently, immovable
characteristics of housing (Renigier-Biłozor, Biłozor, & Wisniewski, 2017), its
location (Cichociński & Dąbrowski, 2013), its importance in the broader economy
(Hill & Scholz, 2017), the growing urban population coupled with rising problems
of adequate and affordable housing and complex human settlement (UN-Habitat,
2011) and several factors that determine housing price (Mohammed & Sulyman,
2019a) necessitate different approaches to a housing market analysis.
Scholars have adopted and developed several conventional methods for the
housing market analysis (Mohammed & Sulyman, 2019a). These methods include:
hedonic model (Yusuf & Resosudarmo, 2009), logit model (Brounen & Kok, 2011),
matched pair audits method (Hanson & Hawley, 2011), spatial approach
(Mohammed & Sulyman, 2019b), space syntax (Xiao, 2012), dynamic general
equilibrium model (X. Li & Tang, 2018), agent-based model (Ge, 2017), analytical
hierarchy process (Tupenaite, Kanapeckiene, & Naimaviciene, 2017), multiple
regression model (Wickramaarachchi, 2016), local projection method (Cameron,
2018), ordinary least squares (Zhang & Zhao, 2018), cluster analysis (Guan & Gao,
©2020 Musa Zango Bello, Mohammed Lekan Sanni, Jibrin Katun Mohammed.
This is an open access article licensed under the Creative Commons Attribution License 227
(http://creativecommons.org/licenses/by/4.0), in the manner agreed with Sciendo.
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2018), month-based model (Bérard & Trannoy, 2018), Mahalanobis-metric


matching model (Jung & Yoon, 2018) and artificial neural network model (Del
Giudice, De Paola, & Forte, 2017).
However, few among these methods are widely used in the literature of the
housing market. Some of these methods are modifications of other models, while
some are independent. These methods are frequently adopted by scholars in the
housing market analysis. These are: multiple regression model, hedonic model,
spatial approach, artificial neural network model, and mixed methods.
It is therefore imperative to review these methods of housing market analysis.
The goal of the study is to review the empirical literature on methods in the housing
market analysis in order to examine the best methods for different scenarios.

1. METHODOLOGY

The study adopted an archival research methodology where the focus of the
research was on a review of empirical studies on the conventional methods in the
property market analysis. Thus, the required data for the study were based on
secondary sources obtained from academic journals, conference papers, and thesis
from both printed and online sources. Studies with clear methodologies were
selected. The process is presented in Fig. 1.

Fig. 1. Methodology and Review Process.

2. FINDINGS

Multiple Regression Model


Many studies have been conducted adopting multiple regression to analyse the
housing market. For example, a study by Ajayi et al. (2015) adopted the multiple

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regression model to analyse the relationship between infrastructural facilities and


rental value where the findings of their study showed that there was a strong impact
of water facilities on rental value.
Abdullahi et al. (2018) adopted the multiple regression analysis in mass
appraisal of house price estimation in Kaduna North, Nigeria. The house prices
were considered based on the two basic micro determinants: structural attributes
and location of houses. Their study found that variables that were significant in
determining house prices in Kaduna included the type of house, availability of
security post, years of the transaction, and the type of door, availability of
swimming pool, as well as location of the houses. However, their study considered
the number of bedrooms, condition of the house, type of ceiling, and number of
living rooms as not significant in influencing house prices. A mass appraisal model
was developed for Kaduna North using the significant variables. Part of their
recommendation was that in the future, the mass appraisal of residential properties
in Kaduna North could be carried out using this model to achieve objectivity,
efficiency, fairness and improve the accuracy of the property taxation system,
which would improve government revenue generation, and encourage the
development of physical infrastructure in Kaduna North.
In a study by Antoniucci & Marella (2017), the multiple regression model was
adopted to analyse variation in housing market polarization in Italian cities since
2008, where it was found out that housing market polarization had a significant
correlation with urban density, socioeconomic characteristics, and housing
affordability. Wickramaarachchi (2016) used a multiple regression model to
develop an index that would provide a guideline in determining rental value in the
housing market. Oluwadamilola (2017) also used multiple regression to examine
the influence of socioeconomic factors on the rental value of accommodation.
Similarly, Huang, Li & Ning (2018) used the regression model to assess the effect
of economic policy uncertainty on China’s housing market.
The adoption of the multiple regression model in the housing market analysis
has been criticised by many authors (Xiao, 2012). This criticisms has brought about
the modification among which is the hedonic model.

Hedonic Model
The hedonic approach is one of the most used conventional approaches to the
housing market analysis (Sopranzetti, 2015). Using the hedonic approach,
expenditures on housing can be decomposed into measurable prices and quantities,
so that rents for different dwellings or identical dwellings in different places can be
predicted and compared (Malpezzi, 2002; Meese & Wallace, 1991; Sopranzetti,
2015). This approach has been adopted by several authors in analysing the housing
market (Abdullahi et al., 2018; Anselin & Le Gallo, 2006; Goodman & Thibodeau,
1995; Helbich, Brunauer, Vaz, & Nijkamp, 2014; Liao & Wang, 2012; Lu, 2018;
Oladunni, Sharma, & Tiwang, 2017; Sandmo, 2014).
For example, Lu (2018) examined the relationship between the view orientation
of an apartment and its property value in the context of the Shanghai housing
market. The author used a hedonic pricing model and a unique dataset, comprised

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of apartment attributes, ambient environmental indicators, and urban spatial


structure, which showed that a south-facing orientation was associated on average
with a 14 % premium in the property value.
Liao & Wang (2012) applied the hedonic approach where they made use of
publicly accessible sources to construct a new micro-dataset for an emerging
Chinese city, Changsha, and it incorporated quantile regression with spatial
econometric modelling to examine how implicit prices of housing characteristics
might vary across the conditional distribution of house prices. Razali et al. (2018)
examined the property market price response to flood hazard in the Langat River
flood area in the State of Selangor, Malaysia. They suggested that environmental
attributes were very subjective and relatively new in the valuation theory. Cajias,
Fuerst & Bienert (2019) assessed the energy efficiency levels of the housing stock,
which was of particular concern in the private rental market where capital costs and
utility cost savings were not shared in equal measure by landlords and tenants.
Liebelt, Bartke & Schwarz (2018) analysed the influence of Urban Green Spaces
(UGS) on residential property prices in Leipzig, Germany, by applying a hedonic
pricing analysis. Yusuf & Resosudarmo (2009) in their study adopted the hedonic
model to analyse Jakarta housing market considering air pollution effects on a rental
value. Bin et al. (2008) used the hedonic model to examine the effect of flood
hazards on coastal property values. Wu, Deng & Liu (2014) constructed a house
price index in the Nascent housing market using the hedonic model. The hedonic
model was also used by Muehlenbachs, Spiller & Timmins (2015) in assessing the
housing market impact of shale gas development. Wu et al. (2017) found out that
the effect of parks on the housing price was statistically significant using the
hedonic model. Gambo (2012) analysed the influence of violent ethnoreligious
conflict on residential property values using the hedonic model. By means of the
hedonic model, critical factors determining housing prices were assessed by
Adegoke (2014).
Chen & Li (2017) analysed the cumulative impact of polluted urban streams on
property values using the hedonic model. Other scholars who used the hedonic
model: Kim, Lee, Lee and Choi (2019) in examining the local impact of urban park
plans and park typology on the housing price; Kemiki, Ojetunde & Ayoola (2014)
used it to analyse noise and dust impact of a cement factory on house prices;
Devaux, Berthold & Dubé (2018) assessed the economic impact of a heritage policy
on residential values; Gulyani et al. (2018) also used the hedonic model to analyse
demand and living conditions in the urban housing market.
The model has been widely accepted in housing market literature mostly by
real estate experts and urban planners. However, the method is not free from
criticism.

Spatial Approach
One reason house prices may be spatially autocorrelated is that property values
in the same neighbourhood capitalize on shared location amenities. Location
characteristics that influence house prices include neighbourhood characteristics,
accessibility, and proximity externalities (Basu & Thibodeau, 1998). The spatial

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approach has been adopted by several authors in analysing the housing market
(Basu & Thibodeau, 1998; Delbari, Afrasiab, & Jahani, 2013; Diao, 2015; Dubin,
1998; Dubin, 1992; McCluskey, Deddis, Lamont, & Borst, 2000; Moral, 2008; Tu,
Sun, & Yu, 2007; Wang et al., 2017; Chao Wu, Ye, Du, & Luo, 2017; Zhang, Sun,
& Stengos, 2018).
For example, Zhang & Tang (2016) analysed spatial patterns of housing prices
in Chinese cities with an emphasis on public attention. They argued that
unavailability or ill-documented detailed housing price data posed a serious
challenge for the housing price assessment in China. They also argued that web
search engine records of individual search activities and the analysis of these data
in cyber-space might provide an insight into understanding of public attention and
how it was associated with real geographic space. Through the analysis of the web
query activities based on the Baidu Index, spatial patterns of public attention on
housing prices were explored. In achieving this objective, a new index based on
keyword query outcomes was proposed, where spatially heterogeneous patterns of
housing price attention were analysed using the Baidu search database with a focus
on 19 Chinese cities, including large and medium-sized cities. The spatial network
structure of housing price attention was evaluated and a new index was developed
to measure the extent of interaction relationships among the studied cities. The
results of the evaluation of the spatial interaction of housing price attention among
the cities in the new method were consistent with those from a gravity model. The
Baidu Index-based indicators showed strong spatial relationship patterns among the
cities, which formed urban agglomerations. Their results further demonstrated that
the web search engine approach, combining both cyber-space and geographic
space, provided a basis for the assessment of the housing price attention and its
spatially explicit patterns in China.
Kuntz & Helbich (2014) compared the accuracy of the prediction of univariate
kriging variants, namely universal kriging (UK) and detrended kriging (DK), and
multivariate extensions, including universal cokriging (UCK) and detrended
cokriging (DCK). Both later techniques consider neighbourhood and structural
characteristics as auxiliary variables. While the UK and DK price surfaces showed
nearly identical cross-validated accuracies, the cross-validation-based prediction
accuracy of DCK and UCK differed in favour of the latter. They suggested that
either UK or DK could be used by real estate agencies for a univariate sample of
property prices, while UCK was recommended for a multivariate case, although
numerically more complex.
Li, Ye, Lee, Gong, & Qin (2017) argued that there was fast-paced development
in China’s real estate industry in recent decades. However, there are spatial
imbalances between urban economic growth and that in both rural and urban areas,
excessive growth and house price fluctuations attracted public attention. They
argued that the focus of urban and regional economic research had shifted to these
issues. An efficient, reliable, and accurate housing price prediction remains much
required and disputable issue. Consequently, several studies emerged due to the
trends and changes in the financial market, urbanisation processes, and population
migration, to examine the determinants of housing price fluctuations. They
examined the spatiotemporal trends of the housing price fluctuation in the big data

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context, where data from China’s leading online real estate platform (sofang.com)
were used. Spatial data analytics and modelling techniques were adopted to identify
housing price spatial distribution at the micro-level, spatiotemporal dynamics of
houses in the housing market, and assess the geographic disparity of housing prices.
Their results revealed the spatiotemporal patterns of the housing prices in a large
metropolitan area, demonstrating the importance of big data and how big data could
be handled.
Helbich et al. (2014) investigated single-family houses by modelling spatial
heterogeneity (SH). They argued that the capabilities of the global and locally
weighted hedonic model were explored using single-family house prices in
Australia. They suggested that even if SH model could not be fully conducted using
regional indicators and that unmodeled SH required technical amendments, the
results emphasised their importance in a reliable model. Since the SH is beyond the
level of regional indicators, it brought about processing locally weighted
regressions. For instance, limitations of fixed effects are prevented by mixed
geographically weighted regression (MGWR) by exploring price effects that are
both spatially stationary and non-stationary. Apart from prediction error reduction,
they suggested that the misspecifications of the global model arose from improper
selected fixed effects. They found out that regional indicators and purely local
models could not be compared with SH implicit prices in terms of complexity.
Iliopoulou & Stratakis (2018) analysed housing prices in the Greater Athens
region employing data for the structural and locational characteristics of dwellings.
They used a sample from the total housing supply in 2017 and included several
thousand dwellings for sale available by online real estate agencies. A description
of the houses was provided in terms of their structural characteristics, such as the
type of a dwelling, size, floor, number of bedrooms, parking, etc. Also, several
characteristics relative to the location of dwellings, such as distance from the closest
metro station or distance from the city center, were calculated in a GIS environment.
Due to the spatial dependency of the residuals in the ordinary least squares method,
a spatial regression model (geographically weighted regression) was also presented,
which improved the accuracy of the prediction. They concluded that most locational
characteristics did not contribute significantly to the explanatory power of a
regression model when compared to structural characteristics.
Chen (2018) examined spatial differentiation of urban housing prices in
Guangdong province in China and factors influencing housing prices. Spatial
heterogeneity of housing prices and that of their impact factors were examined
during the period of 1995–2015 using ESDA and GWR models. The study found
out that a certain circle structure was shown in the spatial structure of housing prices
in the region. While relatively high housing prices were found in the Pearl River
Delta region, there was a high disparity between housing prices of Zhongshan,
Huizhou, and other cities. The price of housing in the cities of northern, western
and eastern Guangdong was low, which showed a significant high variation from
the housing prices of cities in Pearl River Delta, also Shantou and its surroundings
had a high difference between the housing prices.
Ajayi, Nuhu et al. (2015) analysed the relationship between housing conditions
and rental value using a spatial approach. Spatial network analysis was adopted by

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Xiao, Webster & Orford (2016) in assessing house price effects of changes in urban
street configuration. Similarly, Mohammed and Sulyman (2019b) examined spatio-
temporal dynamics of the housing market in Bida, Nigeria. This approach is widely
used and not free from criticism but much adopted in the literature of the housing
market by urban planners (Xiao, 2017). This model is more acceptable in the
literature by urban planners and is a trend in real estate research.

Artificial Neural Network


Several studies have been performed on housing market using an artificial
neural network ( Coakley & Brown , 2000; Kauko, 2003; Kauko, Hooimeijer, &
Hakfoort, 2002; Khalafallah, 2008; Li et al., 2014; Limsombunc et al., 2004;
Moulton & Preece, 2002; Selim, 2009). For example, Kauko et al. (2002) assessed
the housing market of Helsinki in Finland using neural network modelling. Their
study showed how various dimensions of housing submarket formation were
identified by exploring patterns in the dataset, and also revealed classification
abilities of two neural network techniques: the Learning Vector Quantisation
(LVQ) and Self-Organising Map (SOM). They argued that location and house type
relatively determined housing submarket formation in Helsinki.
Selim (2009) examined the housing price determinants in Turkey using the
Household Budget Survey data of the year 2004. He argued that one of the
shortcomings of the hedonic method was that a locational value that was usually
analysed on large data sets required formality based on the microeconomic theory.
He also argued that an artificial neural network (ANN) was employed because there
was potential non-linearity in the hedonic functions and that ANN was an
alternative method. When comparing the prediction performance between the
hedonic and ANN models, the study suggested that ANN could be a better
alternative for housing price prediction in Turkey.
Limsombunc et al. (2004) performed an empirical study in Christchurch, New
Zealand, comparing hedonic and ANN models on the housing price prediction.
About 200 houses were randomly selected from the Harcourt website. Factors
considered in the model included: house type, house age, house size, number of
bathrooms, number of bedrooms, number of garages, neighbourhood amenities, and
geographic location. The empirical result was argued to be in favour of ANN on
house price predictions.
Khalafallah (2008) developed ANN-based models to support home developers
and real estate investors in their critical tasks. He defined the decision variables,
methodological design, and model implementation. Historical market performance
data sets were utilised in the model to train the ANN to predict the future market
performance. The model example was used to demonstrate the model capabilities
in assessing and predicting the housing market performance. The model validation
showed error in predictions in the range of between –2 % and +2 %.
Li, Zhang, Yang, & Wang (2014) applied an ANN to innovatively predict real
estate development phases and identify its life cycles in China, using 1993–2008
historical training samples that were well-trained. Their results indicated that ANN
performance had reached high accuracy due to the outcome of the oscillational

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characteristics of China’s housing market. They argued that volatility in China’s


real estate cycles became more glaring during 2008 due to deepening governmental
interventions. But when the housing market reached its peak in 2009, recession
quickly set in 2010, and then approached its trough in 2011. They concluded that
several interventions by the governmental policies had tremendous impact on the
housing market since 2008, particularly on the duration and frequency of the real
estate cycles and expansion of the real estate business.
Del Giudice, De Paola & Forte (2017) argued that neural networks (NNs) had
a wide interest due to empirical achievements in a wide range of learning issues.
According to the authors, NNs are highly expressive models that can learn complex
function approximations from input/output, with a particular ability to train them
on massive data sets with stochastic optimization. They also argued that the
Bayesian approach to NNs could potentially avoid some of the problems of
stochastic optimisation and the use of Bayesian learning was well suited to the
problem of real estate appraisals. Bayesian inference techniques are very interesting
to deal with in a small and noisy sample in the field of probabilistic inference carried
out with a neural model. For this purpose, they experimented on an NN model with
Bayesian learning. The output distribution was calculated operating a numerical
integration on the weight space with the help of the Markov Chain Hybrid Monte
Carlo Method, which they concluded to be the best for the housing market analysis.
However, Kauko (2003) adopted a spatial approach to a neural network
analysis. He worked on current neural network applications involving spatial
modelling of property prices. He evaluated the pros and cons of neural network
models of property valuation (particularly the ‘self-organising map’, SOM) in
comparison with hedonic models, and provided some examples of the application
of the SOM method. His particular interest was how different locational,
environmental, and social factors affected housing market segments and house price
levels. He argued that these objectives were conveniently handled with a method
based on the SOM.
This model suffers setbacks in its application to the housing market by real
estate surveyors and urban planners.

Mixed Methods
Housing market analytical methods are combined in the literature of the
housing market to have robust results. These combinations are attributed to some
shortcomings in the application of single methods or models. For example, a
principal components analysis is usually combined with the regression model to
reclassify factors that determine a rental value into groups of significance.
Regression analysis and geographic field models are combined to analyse the
effects of locational factors on the housing prices of residential communities. Zhao
(2018) used a cross weight coefficient and regression models to analyse the
relationship between a fertility rate and housing price. The month-based model and
the hedonic model were combined by Bérard and Trannoy (2018) to assess the
impact of the 2014 increase in real estate transfer taxes on the French housing
market. Some other authors combined the hedonic model and spatial approach

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techniques to analyse the housing market. For example, Chung, Seo & Kim (2018)
combined the spatial approach and the hedonic model to analyse price determinants
and GIS analysis of the housing market. The same combination was adopted by
Cui, Gu, Shen & Feng (2018).
Paz & McGreal (2018) used the price index and the hedonic model to compare
different results of housing price indices. Zhang & Zhao (2018) determined the
informal housing price in Beijing using ordinary least squares and multi-level
hedonic models. Principal component and lagged sentiment proxies were combined
by Zhou (2018) to examine the interaction between housing market sentiment and
government interventions. Latinopoulos (2018) examined the effect of sea view on
room rates alongside other structural and locational attributes where GIS system
was used to apply a spatial hedonic model. A semi-parametric geographically
weighted regression model was used to assess the local effects, as well as to
investigate the spatial variability of the selected attributes.
A combination of methods continues to be seen as the best approach in
analysing a housing price by urban planners and real estate experts. However, an
artificial neural network is given less attention in this regard.

3. DISCUSSION

The hedonic model is one of the most used methods/models in the housing
market analysis (Mohammed & Sulyman, 2019a). Research from the developing
world has proven that the hedonic model is widely used (Gambo, 2012; Malpezzi,
2002). The findings of this review proves that multiple regression models and
hedonic models require combination with other methods such as a principal
component analysis to enhance factors responsible for housing prices. For example,
the house price index was constructed by Wu, Deng & Liu (2014), and
Wickramaarachchi (2016) using the hedonic model and multiple regression model,
respectively. Their models were exaggerated because they included those factors
that were much less significant; this was because they could not reduce the factors
to minimal significant factors. The findings of the review also prove that spatial
analytical models in the housing market analysis have some shortcomings where in
most cases the models are exaggerated most especially the spatial autocorrelation
models (Xiao, 2012). The study shows that authors in developing countries applied
the multiple regression model, hedonic model, and spatial analysis in analysing a
housing price. For example, Abdullahi et al. (2018), Ajayi et al. (2015), and
Oluwadamilola (2017) applied the multiple regression model in analysing the rental
value of residential housing. For the hedonic model, Kemiki, Ojetunde & Ayoola
(2014), Adegoke (2014), and Gambo (2012) analysed housing prices with it.
Authors also adopted spatial analytical techniques for housing price analysis. For
instance, Mohammed & Sulyman (2019b) adopted spatial autocorrelation to
develop spatial and temporal housing price model. Spatial autocorrelation was also
adopted in analysing residential rental values (Ajayi, Nuhu et al. 2015). Artificial
neural network as a machine learning model has been adopted by many researchers
of the housing market due to its high predictive ability and sorting of data into
different layers based on their significance. It is said to be better than multiple

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regression and hedonic models due to its predictive potential and performance, and
a better alternative for prediction of house prices (Limsombunc et al., 2004; Selim,
2009). It also has capabilities in analysing and predicting housing market
performance (Khalafallah, 2008). Artificial neural network is not free from
criticism but can be better when combined with the spatial approach. Artificial
neural network is given less preference in developing world literature of the housing
market.

CONCLUSIONS

In conclusion, methods that are widely used in the literature of the housing
market are the multiple regression model, hedonic model, spatial approach,
artificial neural network model, and mixed methods. The hedonic model is one of
the most used methods/models in the housing market analysis in the developing
world. The adoption of the hedonic model is attributed to the shortcomings of the
multiple regression model. Spatial analytical models in the housing market analysis
used in housing market research also have some shortcomings where in most cases
the models are exaggerated, most especially the spatial autocorrelation models.
Artificial neural network is better than multiple regression and hedonic models due
to its predictive potential and performance, and a better alternative for prediction of
house prices. The model has a high predictive ability and can reclassify data without
requiring other analytical methods. Spatial models would be better when combined
with an artificial neural network. Artificial neural network is given less preference
in the developing world literature of the housing market. It is therefore
recommended to adopt the artificial neural network in the housing price analysis
for better housing policy formulation in developing nations.

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AUTHORS’ SHORT BIOGRAPHIES

Musa Zango Bello attended Sabongida Primary School, Bida, Nigeria between 1983 and 1989, and
he obtained secondary education from Government Secondary School, Maikunkele, Minna, Nigeria.
He obtained a Bachelor degree of Technology and a Master degree of Technology in Estate
Management from the Federal University of Technology, Minna, Nigeria in 2006 and 2015.
M. Z. Bello worked as a Manager at Moshood Mustapha and Co. in Minna, Niger State from 2004
to 2005 and as a Estate/Marketing Manager at Urban Shelter Limited from 2008 to 2013. He is
currently a Lecturer at the department of Estate Management, Baze University Abuja, Nigeria.
M. Z. Bello is a member of the Nigerian Institute of Estate Surveyors and Valuers.
Address: Department of Estate Management, Baze University, Abuja, Nigeria.
E-mail: [email protected]
ORCID iD: https://orcid.org/0000-0002-5471-4696

Dr Mohammed Lekan Sanni attended Ansar-ud-Deen High School, Saki, Oyo State, Nigeria first
between 1979 and 1984 for his secondary education and later between 1984 and 1986 for his
Advanced Level (Higher School Certificate). He is a graduate of Geography and Planning from the
University of Lagos, Lagos, Nigeria in 1990. He obtained a Master degree of Urban and Regional
Planning from the University of Ibadan, Ibadan, Nigeria in 2000 and later a PhD degree in Urban
and Regional Planning from the Federal University of Technology, Minna, Nigeria in March 2017.
Dr L. M. Sanni worked as a Lecturer at the Department of Town Planning of the Polytechnic, Ibadan,
Nigeria between January 2002 and June 2006. He is currently a Senior Lecturer at the Department
of Urban and Regional Planning, Federal University of Technology, Minna, Nigeria. His areas of
research interests include housing, urban governance and disaster risk management; areas in which
he has published extensively in both local and international journals.
Dr L. M. Sanni is a member of the Nigerian Institute of Town Planners and a registered town planner.
Address: Department of Urban and Regional Planning, Federal University of Technology, Minna,
Nigeria.
E-mail: [email protected]
ORCID iD: https://orcid.org/0000-0001-8090-0997

Jibrin Katun Mohammed attended Abubakar Anike Model Primary School, Bida, Nigeria from
1991 to 2006. He obtained a Senior Secondary School Certificate in 2003 and a Bachelor degree of
Technology in Estate Management and Valuation from the Federal University of Technology,
Minna in 2014. Currently, he is a Postgraduate Student at the Master (M.Tech) level, Housing and
Urban Renewal in Urban and Regional Planning Department, Federal University of Technology,
Minna. J. K. Mohammed worked as a GIS Consultant at the Department of Estate Management and
Valuation and Department of Urban and Regional Planning, Federal Polytechnic, Bida between
2016 and 2019. He is currently a Lecturer at the Department of Estate Management and Valuation,
Federal Polytechnic, Bida, Nigeria.
Address: Department of Urban and Regional Planning, Federal University of Technology, Minna,
Nigeria.
E-mail: [email protected]
ORCID iD: https://orcid.org/0000-0002-3365-230X

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