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Airbnb Listings: A Potential House Price Index


A housing price index (HPI) needs reliable and relevant data. An HPI is important both for households and regulators in choosing housing and in deciding which macroeconomic policy handle may be used. An increasing HPI may be an indication of inflation. When inflation is too low, the central bank may reduce interest rates to attract spending. Meanwhile, when inflation is on uptrend, interest rates may be raised to encourage households to keep money in the bank due to higher returns. One potential source of reliable and relevant data in the creation of an HPI is a collection of listings for rent. This policy brief uses the available listings from the peer-to-peer network Airbnb, collected from the 29th of May to the 1st of June in 2018. Data analysis is primarily focused on elaborating distribution of certain property features of the listings collected. Preliminary analysis has shown a positive relationship between price, ratings, and location.


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