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Combining Geographic Information Systems and Regression Models to Generate Locational Value Residual Surfaces in the Assessment

Author/s: Abdul Hamid

Date Published: 1/01/2007

Published in: Volume 13 - 2007 Issue 1 (pages 35 - 62)

Abstract

Locational Value Residual Surface (LVRS) has been suggested as an alternative to resolving the difficulty in the traditional modelling of locational influence on property values in a particular area. The objective of this paper was to compare the relative performance of models that apply locational value residual surface (LVRS) and the traditional multiple regression models in the prediction of residential property values. A controlled sample of 125 single- and double-storey residential properties was used to construct regression models. It was found that models applying LVRS were marginally better than the traditional models in predicting property values.

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Keywords

Geographical Information System (Gis) - Locational Factors - Locational Value Residual Surface (Lvrs) - Multiple Regression Analysis (Mra) - Residential Property Values

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