Valuation by comparable sales and linear algebra
Valuation by comparable sales and linear algebra
- 1991
- Journal of Property Research 8(1) Spring 1991, 3-19(17) .
Property valuation by comparable sales, though a standard and widespread technique, is imprecise. Identifying a need for improving the methodology within an algebraic and arithmetical structure, the first (by D.G. Wiltshaw) of two articles suggests linear programming as an appropriate alternative to current practice, whilst acknowledging its shortcomings as a means of forecasting. The second (by G.A. Matysiak) challenges the former`s approach, taking issue with its linear determinism and claiming that it thwarts the valuation of an individual property`s worth.
VALUATION TECHNIQUES
Property valuation by comparable sales, though a standard and widespread technique, is imprecise. Identifying a need for improving the methodology within an algebraic and arithmetical structure, the first (by D.G. Wiltshaw) of two articles suggests linear programming as an appropriate alternative to current practice, whilst acknowledging its shortcomings as a means of forecasting. The second (by G.A. Matysiak) challenges the former`s approach, taking issue with its linear determinism and claiming that it thwarts the valuation of an individual property`s worth.
VALUATION TECHNIQUES