|Examination of property forecasting models - accuracy and its improvement through combination forecasting
|Arvydas Jadevicius, Brian Sloan and Andrew Brown
|This paper investigates property forecasting accuracy and its improvement. As it suggests, despite increased sophistication of property market modelling and forecasting, there still remains a degree of inaccuracy between model outputs and actual property market performance. Subsequently, the paper presents the principle of combination forecasting as a medium helping to achieve greater predictive accuracy. The research implements combination forecasting principle. It assesses whether combination forecasts from different forecasting techniques are better than single model outputs. It examines which of them - combination or single forecast - fits the UK property market better, and which of these options forecasts best.
|Year of publication:
Arvydas Jadevicius, Brian Sloan and Andrew Brown (2012).
Examination of property forecasting models - accuracy and its improvement through combination forecasting. 19th Annual European Real Estate Society Conference in Edinburgh, Scotland,