This paper develops a tiered geography of local housing market areas (HMAs) that provides a national framework for spatial planning. It is derived from a theoretical understanding of the economic basis of HMAs. The analysis explores the relationships between the tiers of the HMA geography and...

Analysis of local office markets to date has normally assumed a unitary market which implies that the prices of office attributes remain spatially constant across the entire market. This paper challenges that basic presumption, and its objective is to test for the existence of office market...

The starting point for this paper is the argument that increased weight of money into commercial property in this decade has led to a convergence of UK provincial city office yields. The paper begins by reviewing the concept of a property yield cycle and the notion of a city risk premium, and...

Purpose – The purpose of this paper is to address the variation of efficiency of local office markets. It has long been argued that as data in the property market are based on valuations, it has a tendency toward smoothing or stickiness. The accuracy of valuations is shown to be partially...

Purpose – The purpose of this paper is to analyse the gap between government bonds (index-linked and long-dated) and real estate yields/capitalization rates over time for the UK, Australia and the USA. The global financial crisis was a sharp shock to real estate markets, and while interest...

Purpose – The purpose of this paper is to examine the experience of the UK office market in embracing green buildings. The empirical analysis considers the spatial pattern and growth of green buildings in cities since 1990. It examines the perceived industry wisdom that the establishment of a...

Purpose – The objective of this paper is to re‐appraise intra‐urban rent models in the context of a multi‐nodal landscape. Primarily, the study focuses on the early work of Alonso and, more recently, Di Pasquale and Wheaton. Although the latter use a more sophisticated approach, both...

Purpose – The purpose of this paper is to question whether traditional cost approaches apply to the valuation of an airport now that they are no longer public utilities but very much commercial enterprises. Design/methodology/approach – The research discusses the business model, the...