UQO Working Paper No. 9 — A grand hedonic model of the Canadian housing market: decomposing structure and location value.
1\begin{table}[htbp]\centering2\caption{Dwelling-type and ownership effects in the grand model}3\label{tab:type_effects}4\begin{threeparttable}5\begin{tabular}{lccc}6\toprule7 & Coefficient & SE & \% effect \\8\midrule9\multicolumn{4}{l}{\emph{Dwelling type (ref.: apartment)}} \\10\quad House & 0.377$^{***}$ & (0.041) & +45.7 \\11\quad Row / townhouse & 0.002 & (0.008) & +0.1 \\12\quad Duplex & 0.146$^{***}$ & (0.016) & +15.8 \\13\quad Triplex & 0.359$^{***}$ & (0.056) & +43.0 \\14\quad Fourplex & 0.328$^{***}$ & (0.048) & +38.7 \\15\quad Manufactured home & -0.040 & (0.050) & -4.0 \\16\quad Other & 0.100$^{**}$ & (0.040) & +10.4 \\17\addlinespace18\multicolumn{4}{l}{\emph{Ownership (ref.: co-op / co-ownership)}} \\19\quad Freehold & 0.102$^{***}$ & (0.032) & +10.7 \\20\quad Condominium / strata & 0.097$^{***}$ & (0.031) & +10.2 \\21\quad Leasehold & -0.129$^{***}$ & (0.049) & -12.2 \\22\quad Not reported & 0.101 & (0.062) & +10.4 \\23\quad Other & -0.142$^{**}$ & (0.055) & -13.3 \\24\addlinespace\bottomrule25\end{tabular}26\begin{tablenotes}\footnotesize\item Notes: Grand model (M5), all residential dwellings, FSA fixed effects absorbed, FSA-clustered standard errors. The percentage effect is the \citet{kennedy1981estimation} estimator $100\,[\exp(\hat\gamma-\tfrac{1}{2}\widehat{V}(\hat\gamma))-1]$, which corrects the \citet{halvorsen1980interpretation} transformation for estimation error. Effects are relative to the omitted category and conditional on living area, the other structural attributes and the neighbourhood. $^{*}p<0.1$, $^{**}p<0.05$, $^{***}p<0.01$.27\end{tablenotes}28\end{threeparttable}29\end{table}30