The objective of this paper is to make use of the forward-looking price expectations data published by the RICS to explain and forecast U.K. house prices, three-months ahead. The Nationwide index is used to test the performance of the RICS Survey based on the process of bounded rationality. An S-shaped logistic effect is shown to fit the data, assumed to be account of a diffusion path of expectations from surveyors to other agents.
|Number of pages||9|
|Journal||Territorio Italia land Administration, Cadastre, Real Estate|
|Publication status||Published - Dec 2011|
- House Prices, Expectations, Logistic, Forecasting