[SOLVED] PLAN60571 Real Estate Modelling Assignment 2 Matlab

School of Environment, Education and Development

PLAN60571

Department of Planning and Environmental Management

Course Unit: Real Estate Modelling

Assignment 2:

Hedonic Pricing Model for the Highlands of Scotland Housing Data

This paper sets out the general requirements, together with specific details. Assignment Two is worth 90% of the final mark for the unit.

Theory informs us that the price of a house is a function of its characteristics that may also include neighbourhood attributes. This kind of analysis is called Hedonic Pricing (HP). Conduct a short literature review on HP to inform. your models. Run regression models where the house sale price is your dependent variable. Choose as your independent variables the combination of factors that best explains the house price variation, informed by your literature review. You will need to use the SPSS datafile, Highlands.sav found in the Assessment file on Blackboard. The file contains house prices and house characteristics from the Highlands of Scotland.

Important notes

· Include a Table(s) of ONLY the relevant regression results that you are discussing in the text. You need to refer in the text to all the tables that you include and discuss all the results you present. Refrain from providing statistical software output that you do not discuss.

· Discuss the overall goodness of fit and the statistical significance of your results.

· Interpret the sign and magnitude of the coefficients, discussing if they are reasonable, according to expectations and theory.

· You may want to transform. some of your variables and to run a number of regressions before you find the best explanation of house price. Report only your best model regression results, providing a short explanation of why you ended up with this specific model. Do NOT report the results of all the regression models you run.

Further guidance

· This assignment should not exceed the 2700 word limit in total, excluding only the reference list. The tables are included in the word count. Do not provide any appendices with additional statistical software output.

· The Harvard referencing system should be used when referring to the literature (the reference list should be put at the end of the assignment).

· Marks will be awarded for the content, conciseness, clarity, coherence of arguments, and correct referencing.

· Late submissions will be dealt with strictly in accordance with the rules set out in your programme handbook.

· Further details and guidance about referencing and plagiarism is provided in the Learning Resources in Blackboard.

· When submitting your work, it is very important that you put your student number in the file and NOT your name.

Submission must be done via Turnitin by 14:00 (GMT) on 13^th December.

GENERAL INFORMATION

The assessment has been designed to allow you to show that you have achieved the following learning outcomes:

· Develop complete understanding of fundamental concepts in statistics, econometrics, and modelling relevant to real estate, housing, and planning.

· Demonstrate a full knowledge of the theory and practice of modern econometrics, particularly applied to real estate.

· Develop competence and understanding to be able to carry out good quality applied quantitative research with confidence and authority.

· Develop the critical insight to appraise econometric results obtained by other researchers.

· Systematically approach the construction of solution to a real-life problems, demonstrate the solution’s applicability and to show its theory connections.

· Produce a sustained, sophisticated, and logical argument, backed up by empirical statistical results.

· Design and apply appropriate research methodology to a wide range of real estate issues.

· Apply appropriate quantitative techniques to a real estate, housing, and planning contexts.

· Design and develop conclusions based on evidence including hypothesis testing and modelling outputs.

· Project manage complex tasks and deliver to strict deadlines.

· Make presentations and write reports that are well-researched, ethical, coherent, cogent and logically structured.

1. Marking Criteria are the standard postgraduate-level taught criteria, which are available under the Assessment tab on Blackboard.

The four categories of criteria are:

1. Breadth & depth of knowledge and understanding

2. Synthesis and critical analysis

3. Structure, style. and argumentation

4. Transferable skills

Please note that the overall mark is NOT derived from a notional average of the levels achieved for each of the criteria.

2. Feedback

Feedback will be available within 15 working days (this is excluding weekends, exam periods and university holidays).  Marks and feedback will be available electronically.

3.    Word Count Policy

For every piece of work which you are required to submit for assessment, the Course Convenor will indicate the word limit. This is a maximum word count and should not be exceeded. Markers can consider minor transgressions of up to 10% within the existing marking criteria which means that you can lose marks for not being concise.

The word count includes:

• chapter footnotes and endnotes

• quotations (and citations)

• tables and figures

• tittle page

It does not include:

• reference list (or bibliography)

• appendices (which should be for supporting, illustrative material only and may not be used to elaborate or extend the argument)

4.    Late submission

Work submitted after the deadline will be marked but the mark awarded will be reduced progressively. The work will lose 10 marks per day including weekends.

· a loss of 10 marks per day will occur for up to 5 days;

· a “day” is 24 hours, i.e. the clock starts ticking as soon as the submission deadline has passed;

· a day includes weekends and weekdays