House Price Forecast by using Regression (Eviews)-Essay

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Required to produce a technical report on the outlook for house prices in the regions/metro areas mentioned above. The report should be technically rigorous and consistent with pricing principles/theory (you should include academic references). Word limit is 5,000. All word counts are for guidance only. Aspects that you should take into consideration include the following:

– An overview and historic profile of trends in national house prices in respective countries.

-An overview and historic profile of trends in house prices in regions/metro areas as mentioned above.

-Identify the drivers of the price movements in these regions/metro areas.

-Formulate a multivariate regression model that attempts to explain house price movement based on several drivers. Estimate the model with historical data for all regions/metro areas individually as mentioned above. Based on your expectations about the coefficient signs, interpret results and comment on the quality of the model including descriptive statistics.

– Use the model in (4) to formulate a forecasting equation and provide annual forecasts and outlook for house prices in the short-term (2 years) individually for all regions/metro areas as mentioned above.

– Discuss limitations of any models and forecasts that you have estimated.

**The No. of Observations of the model CAN NOT be under 30***

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