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Home owners' estimates of the current market value of their housing have been used extensively in applied economic research (e.g. the measurement of imputed net rental income and the distribution of wealth). While the accuracy of owner-estimates is an issue of some importance for applied research, there are few studies which examine bias in owner-estimates. In this paper, we adopt a simple yet novel approach to measurement error. This relies solely on respondent provided information and is based on the hedonic price method.