The Optimization house price prediction model using gradient boosted regression trees (GBRT) and xgboost algorithm
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Abstract
In this rapidly advancing technological era, the demand for the real estate industry has also increased, including in the field of house price prediction. House prices fluctuate every year due to several factors such as changes in land prices, location, year of construction, infrastructure developments, and other factors. Numerous studies have been conducted on this issue. However, the challenge lies in building a proven accurate and effective model for predicting house prices with the abundance of features present in the dataset. The objective of this research is to develop a predictive model that can accurately estimate house prices based on relevant features or variables. The researcher utilizes ensemble learning techniques, combining the Gradient Boosted Regression Trees (GBRT) and XGBoost algorithms. The dataset used in this article is titled "Ames Housing dataset" obtained from Kaggle. The predictive model is then evaluated using the Root Mean Squared Error (RMSE) method. The RMSE result from a previous study that used the combination of Lasso and XGBoost was 0.11260, while the RMSE result from this research is 0.00480. This indicates a decrease in the RMSE value, indicating a lower level of error in the model. It also means that the combination of GBRT and XGBoost algorithms successfully improves the prediction accuracy of the previous research model.
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