Mostofi, F; Toǧan, V; Başaǧa, H B; Çltlpltloǧlu, A and Tokdemir, O B (2023) Multiedge graph convolutional network for house price prediction. Journal of Construction Engineering and Management, 149(11): 04023112, ISSN 0733-9364
Abstract
Accurate house price prediction allows construction investors to make informed decisions about the housing market and understand the growth opportunities for development and the risks and rewards of different construction projects. Machine learning (ML) models have been utilized as house price predictors, reducing decision-making costs, and increasing reliability. To further improve the reliability of the existing predictors, this study develops a hybrid multiedge graph convolutional network (GCN) that considers the various relationships between house price records. The developed hybrid multiedge GCN receives richer input from the multidependency information and thus provides a more reliable prediction that accounts for price changes based on the neighborhood, building age, and number of bedrooms. Compared to other ML approaches, the developed multiedge GCN house price predictor displayed good prediction accuracy while providing valuable insights into the factors that affect the house price, such as the desirability of different neighborhoods and building age.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction cost management; graph convolutional network; house price prediction; informed decision-making; multiedge graph |
| Index terms: | accuracy, housing, bedroom, machine learning, construction project, decision-making, building age, construction cost, investor, house price |
| Subjects: | artificial intelligence, financial and cost management, economic analysis, construction type, sociology, decision analysis, asset management, architectural elements, production management, professional development |
| Topics: | Digital Applications, Design Practice, Stakeholder Management, Risk Management, Construction Technology, Business Strategy, Cost Management, Information Management, Project Management |
| Descriptive scope: | 2 PC |
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