The application of intelligent hybrid techniques for the mass appraisal of residential properties

Journal of Property Investment & Finance

Volumn 17, Issue 3, 1999, Pages 218-239

  Mccluskey, William ^a   Anand, Sarabjot ^a  

^a UNIVERSITY OF ULSTER   (United Kingdom)

Author keywords

Appraisals; Data mining; Expert systems; Neural networks; Valuation

Indexed keywords

EID: 84986165696     PISSN: 1463578X     EISSN: None     Source Type: Journal    
DOI: 10.1108/14635789910270495     Document Type: Review

References (29)

1. Anand, S.S. and Buchner, A.G. (1998), “Decision support using data mining”, Financial Times Management, April.
2. Anand, S.S., Patrick, A.R., Hughes, J.G. and Bell, D.A. (1997b), “A methodology for cross-sales using data mining”, Knowledge Based Systems Journal, Vol. 10, pp. 449-61.
3. Anand, S.S., Scotney, B.W., Tan, M.G., McClean, S.I., Bell, D.A., Hughes, J.G. and Magill, I.C. (1997a), “Designing a kernel for data mining”, IEEE Expert, Vol. 12 No. 2, pp. 65-74.
4. Barletta, R. (1991), “An introduction to case based reasoning”, A I Expert, Vol. 6.
5. Borst, R.A. (1992), “Artificial neural networks: the next modelling/calibration technology for the assessment community”, Artificial Neural Networks, pp. 69-94.
6. Borst, R. and McCluskey, W.J. (1996) “An evaluation of abductive network models for the valuation of residential property”, Journal of Property Tax Assessment and Administration, Vol. 2 No. 2, pp. 51-67.
7. Carbone, R. and Longini, R. (1977), “A feedback model for automated real estate assessment”, Management Science, Vol. 24 No. 3, pp. 241-8.
8. Detweiler, J.H. and Radigan, R.E. (1996), “Computer assisted real estate appraisal: a tool for the practising appraiser’’, Appraisal Journal, January, pp. 91-101.
9. Eckert, J. (1991), Property Appraisal and Assessment Administration, International Association of Assessing Officers, Chicago, IL.
10. Evans, A., James, H. and Collins, A. (1992), “Artificial neural networks: an application to residential valuation in the UK”, Journal of Property Valuation & and Investment, Vol. 11 No. 2, pp. 195-203.
11. Fibbens, M. (1995), “Australian rating and taxing: mass appraisal practice”, Journal of Property Tax Assessment and Administration, Vol. 1 No. 3, pp. 61-77.
12. Goonatilake, S. and Khebbal, S. (1995), “Intelligent hybrid systems, : issues, classifications and future directions”, in Goonatilake, S. and Khebbal, S. (Eds), Intelligent Hybrid Systems, John Wiley & Sons, New York, NY.
13. Holland, J.H. (1975), Adaptation in Natural and Artificial Systems, University of Michigan Press, MI.
14. Kathmann, R. (1993), “Neural networks for the mass appraisal of real estate”, Computing, Environment and Urban Systems, Vol. 17, pp. 373-84.
15. Kerber, R., Livezey, B. and Simoudis, E. (1995), “A hybrid system for data mining”, in Goonatilake, S. and Khebbal, S. (Eds), Intelligent Hybrid Systems, John Wiley and Sons, pp. 121-42.
16. Lenk, M., Worzala, E.M. and Silva, A. (1997), “High-tech valuation: should artificial neural networks bypass the human valuer?”, Journal of Property Valuation & Investment, Vol. 15 No. 1, pp. 8-26.
17. Lu, M. and Lu, D.H. (1992), “Neurocomputing approach to residential property valuation”, Journal of Microcomputer Systems and Management, Vol. 4 No. 2, pp. 21-30.
18. McCluskey, W.J. and Borst, R.A. (1997), “An evaluation of MRA, comparable sales analysis and ANNs for the mass appraisal of residential properties in Northern Ireland”, Assessment Journal, Vol. 4 No. 1, pp. 47-55.
19. Mark, J.H. and Goldberg, M.A. (1988), “Multiple regression analysis: a review of the issues”, The Appraisal Journal, Vol. 56, pp. 89-109.
20. Meacham, A. (1988), “Applying regression analysis to real estate appraisals”, The Real Estate Appraiser and Analyst, Summer, pp. 23-7.
21. Nawawi, A.H. and Gronow, S. (1991), “Expert systems in rating valuation”, Journal of the Society of Surveying Technicians, Vol. 18 No. 8, pp. 66-72.
22. Nawawi, A.H., Jenkins, D. and Gronow, S. (1997), “Expert system development for the mass appraisal of commercial property in Malaysia”, in McCluskey, W.J. and Adair, A.S. (Eds), Computer Assisted Mass Appraisal: An International Review, Ashgate Publishing Limited, Aldershot, pp. 103-30.
23. O'Roarty, B., Patterson, D., McGreal, W.S. and Adair, A.S. (1997), “A case based reasoning approach to the selection of comparable evidence for retail rent determination”, Expert Systems with Applications, Vol. 12 No. 4, pp. 417-28.
24. Renwick, R. and Flaherty, J. (1996), “Developing an appraisal model for the City of Melbourne residential units project 1995”, Journal of Property Tax Assessment and Administration, Vol. 2 No. 3, pp. 5-39.
25. Rosen, S. (1974), “Hedonic prices and implicit markets: product differentiation in pure competition”, Journal of Political Economy, Vol. 82, pp. 34-55.
26. Scott, I. and Gronow, S. (1989), “Valuation expertise: its nature and application”, Journal of Valuation, Vol. 8 No. 4, pp. 362-75.
27. Tchira, A. (1979), “Comparable sales selection: a computer approach”, The Appraisal Journal, January, pp. 86-98.
28. Wettschereck, D., Aha, D.W. and Mohri, T. (1997), “A review and empirical evaluation of feature weighting methods for a class of lazy learning algorithms”, Artificial Intelligence Review, Vol. 11, pp. 273-314.
29. Wiltshaw, D.G. (1991), “Econometrics, linear programming and valuation”, Journal of Property Research, Vol. 8, pp. 123-32.