Purpose: The importance of housing performance measures cannot be overemphasized, resulting in a considerable amount of research and practice on the topic, largely in developed countries. In most developing countries, house price index construction is sparse, at best, leaving decisions which hinge on housing performance data little corroboratory evidence. Thus, the purpose of this research is to ascertain the primary micro-level determinants of house prices in Ghana through a stakeholder survey.

Methodology: Using a qualitative approach, data is collected through semi-structured interviews with 20 property practitioners including valuers, academics, property developers, mortgage providers, housing agents and housing economists. The interviews focused on house price determinants and their relationship with price, with special emphasis on the Ghanaian context, as well as proposals for the ideal manager of a house price index.

Findings: This study confirms existing knowledge on the principle of progression and regression. In addition, the research uncovered interesting findings including the relevance of -and current confusion with- unexpired lease terms, and impacts of market dynamics such as physical heterogeneity of properties and hearsay. The study also reveals that for an index to have wide acceptability in Ghana, it needs to be created and managed through a collaborative effort between government and industry.

Originality: Although evidence of quantitative studies relating to house price index does exist, there is no such qualitative study found in the literature that considers house price determinants and conceptualises these factors from leading industry expert point of view in the Ghanaian context. This study lends guidance to housing policy decisions at national and local levels and provides a much-needed source of data for further academic inquiry into housing dynamics in Ghana. It also has significant implications for the valuation of housing in Ghana.