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The conclusions of the study indicate that satisfactory hedonic price index models can be developed, and a cursory check of these relationships indicate that site values in many locations have actually undergone an appreciable reduction over the period 1961- 1971, despite significant positive increases in total dwelling prices. Relating to housing characteristics, residential environment, and locational advantage is achieved by using factor analytic techniques and variable transformations.

A reduction in co-linearity among independent variables Metropolitan Toronto in 19, multiple regression analysis is applied to develop hedonic price index models for the two time periods. Using a random sample of transaction-specific Multiple Listing Service properties for A review of the literature relating to site value estimation is described and a hedonic price index approach is selected as most appropriate for application. This research report describes the results of a study which isolates the site value or locational advantage component of total housing market value.
