In economic analysis, it’s crucial to understand how the local economy is doing. This means looking at important factors like job growth, GDP trends, and how much people are spending. A strong housing market usually happens when the economy is doing well, making these factors really important.
At the same time, it’s vital to know what people want in the market. Are there lots of people wanting to buy houses, or are houses being sold quickly? Understanding these trends helps us figure out what buyers and sellers are looking for in the housing market.
Additionally, where a house is located is super important. We need to consider the neighborhood’s safety, the quality of schools, and how close it is to important places like shops and parks. All of these factors play a big role in how much people are willing to pay for a home, creating a sort of “melody” that attracts potential buyers.
Dataset year range: 2022 – Housing Price Analysis.
Columns:
Price: The price of the house.
Area: The total area of the house in square feet.
Bedrooms: The number of bedrooms in the house.
Bathrooms: The number of bathrooms in the house.
Stories: The number of stories in the house.
Mainroad: Whether the house is connected to the main road (Yes/No).
Guestroom: Whether the house has a guest room (Yes/No).
Basement: Whether the house has a basement (Yes/No).
Hot water heating: Whether the house has a hot water heating system (Yes/No).
Airconditioning: Whether the house has an air conditioning system (Yes/No).
Parking: The number of parking spaces available within the house.
Prefarea: Whether the house is located in a preferred area (Yes/No).
Furnishing status: The furnishing status of the house (Fully Furnished, Semi-Furnished, Unfurnished).
Data Source: kaggle.com
Software/Programming Languages Used:
- Power BI
- Python
- Excel
Connect to the main road:
The 19.95% increase in the price of housing differs between properties connected to the main road and those with or without hot water heating.
No connection to the main road:
The 6.09% increase in the price of housing differs between properties connected to the main road and those with or without hot water heating.
1-bathroom:
The 13.98% increase in the price of housing differs between properties with 1 bathroom and those with or without hot water heating.
2-bathrooms:
The 3.63% increase in the price of housing differs between properties with 2 bathrooms and those with or without hot water heating.
3-bathrooms:
The 38% increase in the price of housing differs between properties with 3 bathrooms and those with or without hot water heating.
4-bathrooms:
There is no data for 4-bathrooms having hot water heating in this dataset, so it cannot calculate the rate.
1-car parking:
The 0.82% increase in the price of housing differs between properties with 1 car parking and those with or without hot water heating.
2-car parking:
The 25.10% increase in the price of housing differs between properties with 2-car parking and those with or without hot water heating.
3-car parking:
There is no data for 3-car parking having hot water heating in this dataset, so it cannot calculate the rate.
No Parking:
The 8.74% increase in the price of housing differs between properties without parking and those with or without hot water heating.
Having preferred area:
The rate of increase of 3.92% in the price of housing differs between properties with preferred area and those with and without hot water heating.
No preferred area:
The rate of increase of 25.64% in the price of housing differs between properties with preferred area and those with and without hot water heating.
1-stories:
The rate of increase of 7.65% in the price of housing differs between properties with 1-stories and those with and without hot water heating.
2-stories:
The rate of increase of 31.35% in the price of housing differs between properties with 2 stories and those with and without hot water heating.
3-stories:
The rate of increase of -5.45% in the price of housing differs between properties with 3 stories and those with and without hot water heating.
4-stories:
There is no data for 4 stories having hot water heating in this dataset, so it cannot calculate the rate.
Having basement:
The rate of increase of 29.05% in the price of housing differs between properties with a basement and those with and without hot water heating.
No basement:
The rate of increase of 9.87% in the price of housing differs between properties without a basement and those with and without hot water heating.
Having guestroom:
The rate of increase of 13.36% in the price of housing differs between properties with a guestroom and those with and without hot water heating.
No guestroom:
The rate of increase of 19.35% in the price of housing differs between properties without guestroom and those with and without hot water heating.
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